Citation
Annual report of the Board of Directors of the Panama Rail Road Company to the stockholders

Material Information

Title:
Annual report of the Board of Directors of the Panama Rail Road Company to the stockholders
Alternate Title:
Report of the Panama railroad co. for the year
Portion of title:
Annual report of the Board of Directors of the Panama Railroad Company to the stockholders
Creator:
Panama Railroad Co
Place of Publication:
New York
Publisher:
Panama Rail Road Company.
Publication Date:
Frequency:
annual
regular
Language:
English
Edition:
v.3, no.57-73, 1906-1922
Physical Description:
v. : ; 24 cm.

Subjects

Genre:
serial ( sobekcm )
federal government publication ( marcgt )

Notes

Numbering Peculiarities:
Fiscal year ends December 31, 1877-1904: fiscal year ends October 31, 1905; fiscal year ends June 30, 1906-1951.

Record Information

Source Institution:
University of Florida
Holding Location:
University of Florida, General Storage
Rights Management:
This item is a work of the U.S. federal government and not subject to copyright pursuant to 17 U.S.C. §105.
Resource Identifier:
021902642 ( ALEPH )
07098325 ( OCLC )
Classification:
W 79.13/1: ( sudocs )

Aggregation Information

DLOC1:
Digital Library of the Caribbean
PCM:
Panama and the Canal
IUF:
University of Florida
IUFGOV:
Centers of Excellence at UF
UFPANCAN:
Documents of the Panama Canal

Downloads

This item has the following downloads:

AA00048437_00011.pdf

AA00048437_00011.txt

00006.txt

00555.txt

00867.txt

00265.txt

00199.txt

01000.txt

00649.txt

00579.txt

00399.txt

00409.txt

00206.txt

00824.txt

00613.txt

00872.txt

00026.txt

00509.txt

00047.txt

01040.txt

00630.txt

00080.txt

00410.txt

00620.txt

00415.txt

00479.txt

00645.txt

00288.txt

00058.txt

00339.txt

00372.txt

00493.txt

00816.txt

01014.txt

00646.txt

00759.txt

00770.txt

00934.txt

00810.txt

00523.txt

00696.txt

00514.txt

00604.txt

00105.txt

00060.txt

00054.txt

00092.txt

00560.txt

00834.txt

00704.txt

00282.txt

00602.txt

00896.txt

00969.txt

00678.txt

00233.txt

00890.txt

00485.txt

00605.txt

00829.txt

00430.txt

00909.txt

00280.txt

00051.txt

00769.txt

00681.txt

00599.txt

00269.txt

00881.txt

00650.txt

00587.txt

00748.txt

00889.txt

00840.txt

00920.txt

00177.txt

00965.txt

00380.txt

00524.txt

00783.txt

00661.txt

00231.txt

00263.txt

00416.txt

00733.txt

00798.txt

00252.txt

00055.txt

00521.txt

00061.txt

00320.txt

00153.txt

01006.txt

00162.txt

00137.txt

00803.txt

00205.txt

00533.txt

00253.txt

00612.txt

00392.txt

00296.txt

00183.txt

00067.txt

00142.txt

00532.txt

00181.txt

01004.txt

00237.txt

00037.txt

00898.txt

00515.txt

00860.txt

00326.txt

00852.txt

00508.txt

00993.txt

00290.txt

00381.txt

00262.txt

00033.txt

00627.txt

00571.txt

00440.txt

00215.txt

00100.txt

00786.txt

00487.txt

00358.txt

00224.txt

00746.txt

00291.txt

00096.txt

00853.txt

01029.txt

00145.txt

00335.txt

00800.txt

00388.txt

00308.txt

00911.txt

00750.txt

00562.txt

01042.txt

00893.txt

00922.txt

00538.txt

00588.txt

00448.txt

00622.txt

00684.txt

00600.txt

00108.txt

00596.txt

00719.txt

00767.txt

00926.txt

00466.txt

00316.txt

00338.txt

00682.txt

00333.txt

00511.txt

00968.txt

00174.txt

00806.txt

00498.txt

01003.txt

00975.txt

00317.txt

00062.txt

00002.txt

00534.txt

00336.txt

01041.txt

00631.txt

00549.txt

00112.txt

01039.txt

00146.txt

00606.txt

00243.txt

00076.txt

00057.txt

00378.txt

00293.txt

00433.txt

00641.txt

00359.txt

00148.txt

00949.txt

00574.txt

00373.txt

00182.txt

00455.txt

00544.txt

00833.txt

00771.txt

00753.txt

00525.txt

00158.txt

00899.txt

00087.txt

00914.txt

00484.txt

00503.txt

00861.txt

00371.txt

00066.txt

00787.txt

00186.txt

00402.txt

00419.txt

00073.txt

00075.txt

00780.txt

00977.txt

00267.txt

00279.txt

00474.txt

00516.txt

00343.txt

00442.txt

00740.txt

00367.txt

00567.txt

00609.txt

00194.txt

00817.txt

00913.txt

00839.txt

00385.txt

00007.txt

00127.txt

00398.txt

01018.txt

00936.txt

00904.txt

00235.txt

00027.txt

00404.txt

00063.txt

00698.txt

00387.txt

01046.txt

00712.txt

01021.txt

00615.txt

00315.txt

00897.txt

00270.txt

00352.txt

01027.txt

00937.txt

00114.txt

00992.txt

00221.txt

00091.txt

00071.txt

00120.txt

00738.txt

01015.txt

00059.txt

00820.txt

00223.txt

00714.txt

00687.txt

00903.txt

00136.txt

00976.txt

00633.txt

00439.txt

00259.txt

00791.txt

00284.txt

00766.txt

00717.txt

00568.txt

00546.txt

00616.txt

00744.txt

00150.txt

00303.txt

00830.txt

00906.txt

00518.txt

01037.txt

00726.txt

00386.txt

00578.txt

00956.txt

00341.txt

00444.txt

00794.txt

00559.txt

00874.txt

00330.txt

00664.txt

00952.txt

AA00048437_00011_pdf.txt

00042.txt

00582.txt

00012.txt

00875.txt

00201.txt

00360.txt

00595.txt

00445.txt

00156.txt

00125.txt

00644.txt

01032.txt

00023.txt

00980.txt

00350.txt

00167.txt

00039.txt

00449.txt

00218.txt

00683.txt

00480.txt

00685.txt

00755.txt

00122.txt

00643.txt

00462.txt

00666.txt

00473.txt

00658.txt

00665.txt

00577.txt

00258.txt

00735.txt

00368.txt

00408.txt

00870.txt

00887.txt

00163.txt

00255.txt

00925.txt

00407.txt

00256.txt

00960.txt

00807.txt

00133.txt

00210.txt

00957.txt

00072.txt

00426.txt

00953.txt

00081.txt

00382.txt

00697.txt

01016.txt

00020.txt

00888.txt

00814.txt

00318.txt

00775.txt

00818.txt

00624.txt

00871.txt

00536.txt

00603.txt

00891.txt

00730.txt

00789.txt

00274.txt

00038.txt

00322.txt

00958.txt

00760.txt

00707.txt

00542.txt

00268.txt

00309.txt

00213.txt

00653.txt

00971.txt

00250.txt

00356.txt

00188.txt

00637.txt

00179.txt

00844.txt

00403.txt

00974.txt

00379.txt

00565.txt

00425.txt

00593.txt

00193.txt

00772.txt

00828.txt

00809.txt

00677.txt

00383.txt

01009.txt

00642.txt

00610.txt

00804.txt

00390.txt

00151.txt

00591.txt

00695.txt

00835.txt

00429.txt

00327.txt

00447.txt

00688.txt

00865.txt

00101.txt

00011.txt

00238.txt

00277.txt

00190.txt

00550.txt

00552.txt

00285.txt

00856.txt

01012.txt

00160.txt

00491.txt

00673.txt

00838.txt

00597.txt

00034.txt

00535.txt

00010.txt

00762.txt

00083.txt

00377.txt

00311.txt

00157.txt

00422.txt

00564.txt

00570.txt

00505.txt

00143.txt

00024.txt

00405.txt

00628.txt

00756.txt

00110.txt

00836.txt

00561.txt

00812.txt

00093.txt

00951.txt

00354.txt

00423.txt

00117.txt

00465.txt

00985.txt

00247.txt

00234.txt

00779.txt

00152.txt

00629.txt

00310.txt

00184.txt

00022.txt

00204.txt

00119.txt

00189.txt

00168.txt

00328.txt

00111.txt

00468.txt

00154.txt

00475.txt

01001.txt

00248.txt

00935.txt

00207.txt

00709.txt

00708.txt

00019.txt

00289.txt

00632.txt

00203.txt

00638.txt

00966.txt

00251.txt

00126.txt

00539.txt

00831.txt

00135.txt

00912.txt

00283.txt

00507.txt

00917.txt

00172.txt

00421.txt

00363.txt

00191.txt

00396.txt

00625.txt

00639.txt

00170.txt

00981.txt

00220.txt

00784.txt

00246.txt

00782.txt

01036.txt

00476.txt

00169.txt

00299.txt

00070.txt

00032.txt

00693.txt

00472.txt

00876.txt

00374.txt

00488.txt

00724.txt

00950.txt

00337.txt

00411.txt

00138.txt

00068.txt

00827.txt

01034.txt

00939.txt

00342.txt

00529.txt

00674.txt

00513.txt

00241.txt

00611.txt

00323.txt

00526.txt

00500.txt

00294.txt

00916.txt

00970.txt

00437.txt

00107.txt

00944.txt

01007.txt

00882.txt

00217.txt

00795.txt

00793.txt

00720.txt

00346.txt

00428.txt

00729.txt

00128.txt

00669.txt

00140.txt

00636.txt

00463.txt

00212.txt

00558.txt

00619.txt

00355.txt

00938.txt

00064.txt

00454.txt

00008.txt

00722.txt

00586.txt

00997.txt

00035.txt

00530.txt

00777.txt

00510.txt

00739.txt

00607.txt

00095.txt

00490.txt

00572.txt

00732.txt

00200.txt

01013.txt

00886.txt

00823.txt

00264.txt

00959.txt

00271.txt

00427.txt

00703.txt

00090.txt

00659.txt

00961.txt

00915.txt

00196.txt

00312.txt

00884.txt

00757.txt

00016.txt

00569.txt

00222.txt

00575.txt

00528.txt

00768.txt

00116.txt

01033.txt

00725.txt

00947.txt

00982.txt

00118.txt

00005.txt

00892.txt

00711.txt

00943.txt

00103.txt

01038.txt

00842.txt

00304.txt

00208.txt

00647.txt

00989.txt

00790.txt

00743.txt

00166.txt

00394.txt

00301.txt

00197.txt

00706.txt

00017.txt

00139.txt

00178.txt

00877.txt

00686.txt

00737.txt

00097.txt

00554.txt

00655.txt

00672.txt

00963.txt

00321.txt

00851.txt

00451.txt

00557.txt

00927.txt

00843.txt

00527.txt

00050.txt

00878.txt

00397.txt

00121.txt

00085.txt

00486.txt

00736.txt

00195.txt

00788.txt

01043.txt

00018.txt

01023.txt

00227.txt

00307.txt

00710.txt

00098.txt

01024.txt

00614.txt

00464.txt

00859.txt

00873.txt

00608.txt

00747.txt

00209.txt

00414.txt

00512.txt

00471.txt

00483.txt

00113.txt

00671.txt

00052.txt

00375.txt

00543.txt

00573.txt

01035.txt

00144.txt

00501.txt

01011.txt

00434.txt

00084.txt

00923.txt

00347.txt

00452.txt

00848.txt

00785.txt

00069.txt

00245.txt

00134.txt

00497.txt

00908.txt

00239.txt

00626.txt

00701.txt

00590.txt

00004.txt

00945.txt

00459.txt

00979.txt

00676.txt

00967.txt

00954.txt

00978.txt

00984.txt

00417.txt

01017.txt

00088.txt

00991.txt

00894.txt

00187.txt

00857.txt

00623.txt

00932.txt

00362.txt

00240.txt

00349.txt

00292.txt

00357.txt

00928.txt

00519.txt

00918.txt

00393.txt

00648.txt

00370.txt

00286.txt

00731.txt

00621.txt

00690.txt

00815.txt

00353.txt

00287.txt

00029.txt

00257.txt

01028.txt

00481.txt

00391.txt

00585.txt

00520.txt

00461.txt

00862.txt

00907.txt

00541.txt

00175.txt

00754.txt

00226.txt

00584.txt

00879.txt

00272.txt

00692.txt

00764.txt

00074.txt

00662.txt

00742.txt

00986.txt

00254.txt

00640.txt

00805.txt

00432.txt

00910.txt

00837.txt

00438.txt

00249.txt

00132.txt

00933.txt

00774.txt

00443.txt

00813.txt

00745.txt

00668.txt

00077.txt

00300.txt

00689.txt

00652.txt

00869.txt

00219.txt

00041.txt

00436.txt

00864.txt

00556.txt

00752.txt

00236.txt

00053.txt

00340.txt

00504.txt

00999.txt

00164.txt

00198.txt

00457.txt

00229.txt

00929.txt

00332.txt

00401.txt

00104.txt

00758.txt

00996.txt

00453.txt

00185.txt

00900.txt

00115.txt

00078.txt

00517.txt

00149.txt

00141.txt

00781.txt

00654.txt

00694.txt

00324.txt

00467.txt

00962.txt

00131.txt

00592.txt

00021.txt

01010.txt

00424.txt

00880.txt

00994.txt

00028.txt

00845.txt

00348.txt

00841.txt

00496.txt

01030.txt

00216.txt

00495.txt

00275.txt

01044.txt

00331.txt

00617.txt

00955.txt

00031.txt

00553.txt

00009.txt

00230.txt

00973.txt

00276.txt

00295.txt

00281.txt

00046.txt

00987.txt

00566.txt

00329.txt

00298.txt

00727.txt

00344.txt

00278.txt

00868.txt

00266.txt

00366.txt

00924.txt

01022.txt

00763.txt

00902.txt

00364.txt

00384.txt

00147.txt

00297.txt

00482.txt

00413.txt

01002.txt

00376.txt

00044.txt

00699.txt

00013.txt

00228.txt

00319.txt

00660.txt

00412.txt

00675.txt

00718.txt

00469.txt

00972.txt

00389.txt

00001.txt

00109.txt

00801.txt

00225.txt

00948.txt

00099.txt

00635.txt

00345.txt

00716.txt

00102.txt

00940.txt

00580.txt

00849.txt

00705.txt

00180.txt

00492.txt

00470.txt

00040.txt

00361.txt

00129.txt

00749.txt

00313.txt

00667.txt

00846.txt

01031.txt

00094.txt

00883.txt

00598.txt

00159.txt

00751.txt

00420.txt

00302.txt

00797.txt

00014.txt

00850.txt

00086.txt

01025.txt

00808.txt

00594.txt

00242.txt

00563.txt

00802.txt

00547.txt

00679.txt

00232.txt

00531.txt

00494.txt

01026.txt

00305.txt

00691.txt

01008.txt

00130.txt

00741.txt

00049.txt

00499.txt

00796.txt

00821.txt

00506.txt

00079.txt

00792.txt

00581.txt

00048.txt

00165.txt

00306.txt

00728.txt

00921.txt

00431.txt

00663.txt

00734.txt

00446.txt

00489.txt

00537.txt

00211.txt

00713.txt

00123.txt

00946.txt

00885.txt

00634.txt

00540.txt

00895.txt

00998.txt

00776.txt

00478.txt

00931.txt

00334.txt

00065.txt

00261.txt

00106.txt

00576.txt

00799.txt

00858.txt

00964.txt

00618.txt

ECHQEGQYT_IS1P53_xml.txt

00214.txt

00435.txt

00715.txt

00365.txt

01045.txt

00369.txt

00015.txt

00988.txt

00778.txt

00314.txt

00056.txt

00670.txt

00192.txt

00651.txt

00045.txt

00583.txt

01005.txt

00854.txt

00545.txt

00161.txt

00171.txt

00548.txt

00441.txt

00456.txt

00765.txt

00176.txt

00773.txt

00901.txt

00847.txt

00173.txt

00202.txt

00761.txt

00863.txt

00418.txt

00351.txt

00030.txt

00522.txt

00811.txt

00502.txt

00450.txt

00721.txt

00325.txt

00826.txt

00477.txt

00905.txt

00702.txt

00601.txt

00406.txt

00244.txt

00458.txt

00680.txt

00855.txt

00995.txt

00941.txt

00089.txt

00589.txt

00822.txt

01019.txt

00082.txt

00700.txt

00551.txt

00657.txt

00919.txt

00832.txt

00866.txt

00155.txt

00460.txt

00273.txt

00036.txt

00942.txt

00124.txt

00990.txt

00260.txt

00400.txt

00043.txt

00395.txt

00930.txt

00656.txt

00025.txt

00819.txt

00983.txt

00825.txt

00003.txt

00723.txt

01020.txt


Full Text
A eet
aaa
ae Wy

we

pone eer

Sor td

Peers
ea
5

Peay i
Dn Ba eer ytd
ey tn vege By

on Pee
Ch Lote at a!
Sareea

‘
a
bi ey
Oe









ae
a

eed ie ey
aay rh

at





a eee :
aN Sai

ee





fe Se tf
%




















af



REPORT OF THE PANAMA RAILROAD COMPANY.

“MESSAGE

- ‘FROM THE

PRESIDENT we THE UNITED STATES

“TRANSMI DTING

THE FIFTY-SEVENTH ANNUAL REPORT OF THE BOARD OF
DIRECTORS OF THE PANAMA RAILROAD COMPANY, roe THE
YEAR ENDING J TUNE 30, AO0G:

J ANUARY Ge 1907. —Read, refetred to the Committee on Inters state an Foreign Com-

merce, and ordered to oe ae



Tt 0 the Senate and How of Revco

| ee
59rn Coneress, | HOUSH OF REPRESENTATWES. ee
_ 2d Session. \ : No. 415,
ee Fa

I transmit herewith, for the information of the Coneiee ihe fitty- |

- seventh annual report of the board of directors of the Panama oe

Company, ‘oF the year 7 ending June 30, 1906.

THEODORE Bocas.
THE Waite open Janiary 7 1907.

: Wak DEPARTMENT,
a a ? Washington, January 4, 7907.
My Dear Mr. Pee I beg to inclose you hee a com-
munication from Mr. Shonts, transmitting the fifty-seventh annual
report of the board of dir ectors of the Panama Railroad Company, for

the year ending June. 30, 1906, in order that you may transmit the
ae to Congress.

_ Very respectfully, yours, ia Wo. H. Tarr, a
Secretary of War.
The Prusipenr. |

en

ena D. Co | Jinan 2, 1907.

My Dear Mr. SECRETARY: I beg to transmit to you fee copy
of the fifty-seventh annual report of the board of directors of the

Panama Railroad Company for the year ending June 30, 1906.



2 REPORT OF THE PANAMA RAILROAD COMPANY.

All prior reports of the Panama Railroad have been made to cover
calendar years, but beginning with this report, in accordance with a
wish expressed by you, the same are to cover fiscal years ending June
30, to conform to governmental practice.

There is appended, however, a supplemental report, beginning on
page —, showing the results of the company’s operations from July 1
to October 31, 1906, in order that the annual report, which it is desired
be submitted in December, as are Boycrom on reports, may give the
latest available information.

Very truly, yours, .. EB. SHonrs,
Charman.
The SrcrerTary oF War.

FIFTY-SEVENTH ANNUAL REPORT OF THE BOARD OF DIRECTORS OF THE
PANAMA RAILROAD COMPANY TO THE STOCKHOLDERS FOR THE YEAR ENDING
JUNE 30, 1906.

Board of directors.—T. P. Shonts, Charles E. Magoon, Mordecai T. Endicott, Peter
©. Hains, B. M. Harrod, Oswald H. Ernst, William Nelson Cromwell, J. D. de
Obaldia, Clarence R. Edwards, Roger L. Farnham, E. A. Drake, John F, Stevens,
W. Leon Pepperman.

Huxecutive committee.—T. P. Shonts, W. Leon Pepperman, Charles HE. Magoon,
William Nelson Cromwell, John F. Stevens.

Officers.—T. P. Shonts, president, New York; John F. Stevens, vice-president,
Culebra; E. A. Drake, assistant to president, secretary and treasurer, New York;
W. G. Bierd, general manager, Colon; Sylvester Deming, assistant treasurer, New
York; T. H. Rossbottom, first assistant secretary, New York; EK. 8S. Benson, general
auditor, New York; John Adams, auditor, New York; H. L. Stuntz, acting local
auditor, Colon; R. L. Walker, traffic manager, New York; D. W. Ross, general pur-
chasing officer, New York; Alfred Anderson, assistant purchasing and shipping
officer, New York; Roland Allwork, inspecting engineer, New York; P. G. Baker,
master mechanic, Colon; R. Budd, engineer of maintenance of way, Colon; H. I.
Bawden, terminal superintendent, New York; Sullivan & Cromwell, general counsel,
New York.

General offices. —No. 24 State street, New York.

New Yorx, WVovember 1, 1906.
THE STOCKHOLDERS OF THE PANAMA RAILROAD COMPANY:

I respectfully submit for your consideration a report of the com-
pany’s financial condition and operation for the twelve months from
July 1, 1905, to June 30, 1906.

This report is the first submitted under a resolution adopted by the
board of directors at its meeting on the 2d day of April, 1906, by
which the fiscal year of the company was changed to date from J uly
1 instead of from January 1, to conform with the fiscal year of une
Treasury of the United States Government. |

This report, therefore, necessarily embodies, in addition to new
matter to be presented for the first six months of 1906, details of the
period from July 1, 1905, to December 31, 1905, already presented in
the report for the calendar year 1905.

I call attention to the accompanying exhibits, showing income and
profit and loss account, general balance sheet, and statistical tables
which will give } you detailed Intormation upon the financial aspects of
the company’s business.

Capital stock issue (unchanged)........-.-.- ee ee ee $7, 000, 000



REPORT OF THE PANAMA RAILROAD COMPANY. Oo

The present outstanding bond issues are:

Sinking fund 6 per cent subsidy bonds: :
Originalpissieiobe gs So Pa Pe i a ee bo, 000, 000
(For payment in advance of the annual subsidy of $225,000 to
the Republic of Panama. )



Iedeémed by aunual cinkingstiund drawings 92. -2 95.) 2 2 | 2, 467, 000
Outstandineiay this date. 925. 2.422.223). 20 ee 533, 000
Of these outstanding 100 were purchased out of earnings and are
Owned: Dy the Company -.2-..6.2.- 2: So ee a 100, 000
Leaving i i thepmhands Or tine puliG. = 325552228 oo 433, 000

Through the operation of the sinking fund this indebtedness will be
redeemed in 1908.
First mortgage 43 per cent twenty-year gold bonds:

Authorized cone Ob a ee es 4,000, 000
Eleldeby the public. 3222252 2822 eee $9, 151, 000
Redeemed by annual sinking-fund drawings ..-..-.-.---.- il 121, 000
Feld im companys treasury. 22-3. 6 2 ee ae 628, 000
7 ——_—————__ 4, 000, 000

Through the operation of the sinking fund this indebtedness will be reduced by
1917, the due date of the mortgage, to $1,199,000. It is the only mortgage lien upon
_ the company’s property.

The result of the company’s operations for the period covered by
this report shows that after the payment of cost of operation and all
fixed charges there remained net earnings of $322,881.34, which has
been used for improvements and construction, the expenditures there-
for during this fiscal year, as shown by Exhibit F, amounting to
$1,003,273.06. |

During the fiscal year there was bomacd from the United States
Government $450,000, all of which was expended, in addition to the
net earnings, for improvements and construction.

Gross revenue receipts, expenditures, and net earnin gs for twelve months ending June 80,
1906, compare, as under, with those of the twelve months ending June 80, 1905.





: Earnings over
Earnings. Op ores &X- | operating ex-
Pp penses.
1006s ee -.--| $3, 917, 840.28 | $8,116. 059. 01 $801, 781.27
OO Dee NS NE ONS oss IN ig AN ee oh ean eee s 3, 574, 671. 85 2, 337, 588. 44 1, 237, 188. 41
IMCREASCIMELOOO es ceca eee es coe Reece 343, 168. 43 118; O20 500 eee ee aes
DeCrense tI O0Gis sas ss eee a eS Sea es eo Eee eee eee 435, 357.14

The serious decrease in earnings over operating expenses in 1905-6
as compared with 1904-5, despite the notable increase in the number
of tons of cargo hauled ‘and passengers carried, as shown below, is
explained by important concessions in rates for both classes of traflic
made by executive direction.

EARNINGS.
RAILROAD.
The total earnings of the railroad for the transportation of all

kinds of traffic show an increase of $311,990.06, or 18.81 per cent over
twelve months of previous year. Of this increase in revenue,

/



4 REPORT OF THE PANAMA RAILROAD COMPANY.

$228, 298.16 was derived from merchandise and coal freight, $224,834.08
being increase on westbound business and $3,394.08 increase on east-
bound business. Passenger earnings increased $64,274.90 and mail
earnings increased $13,991.99.

Freight traffic from New York and New Orleans to south Pacific
ports increased 2,797 tons; to Panama 3,719 tons, and to Central Amer-
ica and Mexico there was a decrease of 954 tons. Krom Kurope to ~
Central America and Mexico there was an increase of 2,621 tons and
to south Pacific ports an increase of 4,110.

The decrease in tonnage from Central America and Mexico to
Europe was 7,826 tons, and from south Pacific ports to Europe 6,897
tons.

The following table shows the freight tonnage carried over the rail-
road for twelve months ending June 30, 1906, including company
freight, as compared with the twelve months ending June 30, 1905:











Twelve months ending June 30. ~ 1906. 1905. Increase.
aTons. aTons. | Per cent.
Carried westbound eee ees ein en rao nines aa niece cow ere ee 409,890 | 801,171 36. 10
Carried: eastbound. 52 ss ee Be Sen ee ets ee ee ie i 255, 821 | 181, 091 41, 27
otal west and eastbound 22. = 22225 222s: ge 665, 711 | 482, 262 38.04 —

a Ton of 2,000 pounds or 40 cubic feet.

The gross earnings per ton moved on the road compare as follows:









Twelve months ending June 80. ~ 1906. 1905. |Decrease.

Per cent.
SVAFESUI OUT Cistiecetire SSO eee Ae a kiana ee tei Sram ee REN os ota $e. 03 $3. 53 14,16
HAS UOO UI Cie ee eee ed ee aia fy Siar veya aise erase Same vee ieee 2.32 3.15 26.35
MVCTAS eR West and CasbbOUM Cia. 285 oes se es aU ee eee ee 2.76 3.38 18. 34

Exhibit L, accompanying this report, shows the origin and destina-
tion of the fr eight carried over the railroad.

The total revenue freight traffic of the railroad during the twelve
months ending June 30, including both merchandise and coal, was
622,274 tons, an increase of 181 ,088 tons, or 41.24 per cent. The ‘total
revenue derived from this traffic was ‘$1, 718,389.68, an increase of
$228,298.16, or 15.32 per cent.

In addition to the above freight, 48,4387 tons of company’s freight
and 1,794 tons of mails and excess bageage were hauled.

Of the total freight tonnage carried, 61.57 per cent was westbound
and 38.43 per cent eastbound. In 1905 the percentages were 62.45
per cent and 37.55 per cent, respectively.

The through traftic was 50.83 per cent of the total tonnage handled,

as against 72.57 per cent for twelve months ending June 30, 1905. |

Coal (including company’s) comprised 87.98 per cent of the local
traffic westbound. 7

The following statements show the number of passengers carried
one the passenger earnings:



REPORT OF THE PANAMA RAILROAD COMPANY. 5)

Number of passengers carried and passenger earnings.

a nn sn









Number of passengers carried. Passenger earnings.
Classification. ee seen fe S|
1906. 1905. | Increase. 1906. 1905. | Increase.
Per cent. Per cent.
First-class passengers .............-.- 125, 780 49, 089 156.49 | $93, 974.51 | $60,375.09 | - 55.65
Second-class passengers.............- 322,450 | 168, 891 90.92 | 106,172.41 | '75, 496.938 40, 68
Motels se eee soe eR eee 448 1230) I 217930 105. 68 | 200, 146.92 | 135, 872. 02 AT, 31
Average receipt per passenger.
Classification ode. | 1005. | oc
: aes * | erease.
First-class passengers: ; Per ct.
CT QUIS la ses iis ie Meio EE eee i en ee TROY Pere eatin Cictais wir crete eiee ale ces $4.35 | $6.'78 35. 36
TOC ally eee ence Sere sie ears Ai Moe a epeerero ioe fetes ais ciie gree iets & cie ee .09 . 76 22.38
Second-class passengers:
ETO UGS eters eerie ee are is Sioa meet areata sa a revole ce meer Re cise iatahe ee 4, 45 4,68 4,91
DFO CB ees 02) ere a SO Gee Os a capes emia ee nce Ses Sota aan lade eeatrar eee Ol ~39 20. 51

The gross revenue from the transportation of passengers was
$200,146.92, an increase of $64,274.90, or 47.31 per cent, while the
number of passengers carried show an increase of 230, 300, or 105.68
per cent.

The revenue received from thr ough passengers decreased $6,268.79,
or 17.14 per cent, and the number of passengers increased 790, or
12.87 per cent, as compared with the twelve months ending June 30,
1905. © In February, 1905, the through rate of first-class passengers
was reduced from $10 to $6.50 and for second-class passengers trom
0 to $4.50, thus accounting for the decrease in earnings as compared
with increase in number of | passengers carried.

Local passengers show an increase of $70,543.69 in revenue, or 71.05
per cent, and 229,510 in number carried, or 108.36 per cent. This
large increase is. due to resumption of work on canal. |

STEAMSHIP LINE.

The total earnings of the company’s steamship line were 61,347,012.25,
an increase of $31,178.37, or 2.37 per cent, over the twelve months
ending June 30, 1906.

Freight tr attic decreased 18 ATT tons , or 8.52 per cent, and the reve-
nue therefrom decreased $72, 716. 25, or 7.89 per cent.

Passengers show an increase of A, 151 in number carried, or 58.47
per cent, and an increase in earnings of $53,927.57, or 20. 56 per cent.

The increase in revenue from the transportation of mails was
$46,048.36, or 41.83 per cent.

Of the total tonnage transported 97,472 tons were carried by the
company’s steamers and 100,820 tons by chartered steamers. In the
twelve months ending June 80, 1905, the former carried 118, 001 tons
and the latter 98,768 tons.

MICELLANEOUS RATLROAD RECEIPTS.

The total receipts of the several accounts grouped together under
this heading amounted to $503,018.92, an increase of $2,730.14, or 0.55
per cent, over twelve months ending June 30, 1905.



6 REPORT OF THE PANAMA RATLROAD COMPANY. —

The receipts for wharftage at Panama and La Boca and lighterage of
cargo in Panama Bay, which are included above, show an increase of
$12,375.18.
. EXPENDITURES.

Operating expenses for the twelve months ending June 30, 1906 and 1905.











1906. 1905. Increase.
SEU SR TILT) EUG es ses aaa nee et SENS TE SNE Ga Same eee See $1, 781, 888.55 |$1, 178, 945.05 | $552, 948. 50
UCAS TNT ella Chere se ee SecA RE ee eee, aes erate 1, 384, 170. 46 | 1,158, 588.39 | 225, 582. 07
DOVE ee oa ss BHA Sea ON ss COR eS AMIE AES ee aDrae naD 3 116, 059 OL | 2, 387,588.44 | 778, 520. 57

This table shows an increase of $778,525.57 in total operating
expenses, while there was an increase in total earnings of $343,168.48
(see pp. — and —).

RAILROAD.

CONDUCTING TRANSPORTATION.

The expenses of this department, compared with the twelve months
ending June 30, 1905, show an increase of $358,439.21 or 64.44 per
cent, while the total tonnage moved increased 183,449 tons or 38.04
per cent. .

It should be noted that this report includes the period in 1905 dur-
ing which the serious interruption of traffic occurred as a result of
_ strict quarantine measures temporarily inaugurated at Panama, which
resulted in an enormous accumulation of cargo at our terminals, and
rendered necessary an enormous expense of money and labor to restore
normal conditions. : Je )

The important increase in cost of conducting transportation is fur-
ther accounted for by the operation of heavier equipment installed,
higher prices for labor and supplies, and the added expense incident
to handling an increase of 38 per cent in the aggregate tonnage both
ways over the railroad, which required an almost unprecedented num-
ber of train movements over a road less than 50 miles in length.

“For some time past it has been necessary to run freight trains over
the road at night only, so as to allow the passenger and construction
trains of both the railroad and the Commission the advantage of day-

light in their operations. :

MAINTENANCE OF EQUIPMENT.

The total charges or expenses under this heading amounted to
138,557.51, a decrease of $2,473.43, or 1.75 per cent, as compared with
the twelve months ending June 30, 1905. |

Under the plans and contracts referred to in the company’s report
for the first ten months of 1905, there has been received at the Isthmus,
the following equipment: | | e
Standard 80-ton locomotives, which have been set up and are now in use.._-_--- 24
ay passes! cars, of which 2 are completed and 4 in various stages of con-

SSGISU CULO ieee te ee cei Sar ea te ake a power ee canes a abate tS Vos sama tagy oy Sune en eC auaE eee

Forty-ton capacity box cars, of which 216 are erected and now in use, 229 re-
- quire sixty days for completion, and 55 to be received to complete the original

Onder tor 00022 22 es Ae a ee 445
>] RelmoeratOrcarss 525-228 3 oe Beene Ae eae 0
lean wreckineCranes 9-222 oe a ee 2

Pile: (iiversc.8 5 2 a alt



REPORT OF THE PANAMA RAILROAD COMPANY. 4

In addition arrangements have been made for the transfer from the
Isthmian Canal Commission of 15 flat cars, at a cost of $1,016 each, to
be converted into stock cars.

Contracts have been entered into for the construction of 100 ballast
cars, at $1,560 each; 2 plow discharging cars, at $1,370 each, and 3
first-class and 10 second-class passenger cars and 4 combination bag-
gage and mail cars, at a cost of $121,584.

The ballast cars are required in connection with the double tracking
of the road and to assist in the disposal of the waste material from
canal work. ‘The passenger coaches are required, to add to those
already received on the Isthmus, to meet the increase in passenger
traffic due to canal operations.

The directors have established an ‘*‘Kquipment account” on the
books of the company, placing to the debit thereof the estimated value
of old railroad equipment on the Isthmus and cost of such new equip-
ment as has been or may be purchased from time to time, writing off
to ** Profit and loss account” the difference between the estimated value
of such old equipment and the cost, as shown by the company’s books.

Thus, notwithstanding the notable failure of equipment companies
to live up to their contracts , by which new heavy rolling stock ordered
has been and is being slowly received, the road at the present time is
fairly easy in the matter of equipment.

MAINTENANCE OF WAY AND STRUCTURES.

The track, bridges, and all structures have been maintained in first-
class condition, at an expenditure of $300, 979.29, an increase of
$142,642.10, or 90.9 per cent.

The relaying of new 70-pound steel rails on the main line has been
continued, thus replacing the light worn rails, frogs, switches, etc.,
for a total of 30 miles.

Old side tracks have been rebuilt of new material throughout, and
many new ones constructed.

In previous reports I have referred to the necessity for double track-
ing certain portions of the road in order to provide for the company’s
increasing traffic. ‘That work has progressed as rapidly as practicable,
and, because it was undertaken, in the main, for the benefit of canal
construction, arrangements have been made by which the Isthmian
Canal Commission assumes a large part of the outlay.

Of 35 miles of double tracking contemplated, that is—



Brom Gatun to Camacho <2) 22 en ee 29
Krom: Bedro Miguel to Ranama oi. ,.255 22. i ee 6
SGI ee 30
There have been completed and ready for use...-........-.-....--------.-- 8
acrracks laidcand: ready-tor ballast}: 25.058) ee ee ee Oat
Double track filled, nearly completed, but no tracks laid........-...- oe 11.13

Forty-two out of 62 main-line bridges have been strengthened | or en-—
tirely rebuilt to meet the requirements of new heavy equipment.

Twenty-one bridges were extended for double-track purposes to a
total leneth of 1,7274 linear feet.

One hundred and nineteen new culverts for double track, consisting
of pipe, concrete, and I-beam construction, of a total lenoth of 3,169
linear feet, have been installed.



5S _ REPORT OF THE PANAMA RAILROAD COMPANY.

Two extensions have been made to the company’s wharf No. 4, at
Colon. The Isthmian Canal Commission’s wharves Nos. 11 and 14, at,
Cristobal, extended and rebuilt, and their two new wharves constructed
at La Boca on the Pacific side, have been turned over under lease to
the railroad company to maintain and operate, giving in all anadditional —
on space of 193,936 square feet, equivalent to berthing capacity for

9 ships.

Mt Colon of buildings constructed, a new third story has been added
to the company’s Washington Hotel, a temporary refrigerating plant
with machinery has been installed, and pump stations established at
Kighth and Eleventh streets.

At Cristobal there have been constructed a 21-stall roundhouse, a
20-pocket coal chute, a machine shop transfer table, a turntable, a
50,000-gallon water tank, a standard water crane, 4 new machanics’
quarters, 1 family quarters, 9 laborers’ quarters, and an extension to
the company’s commissary, with interior improvements..

A large cantilever crane, for handling heavy shipments, has been
erected at a total cost of $31, 156.71, and a new coal hoisting plant, to
cost 675,309.45, was 75 per cent completed; both on wharf No. 14.

Along the line of road there has been erected a new 50,000-gallon |
water tank, at Frijoles. At Camacho, Culebra, Las Cascades, and
Frijoles new passenger and freight stations have been constructed, and
others are to be built along the line as needed.

At Panama 4 buildings for quarters have been erected, and at La ~
Boca a new freight office and a large building for quarters for single
employees.

The new terminal and switching yard of 600 cars capacity at Cris-
tobal was completed, and a new yard at La Boca of 600 cars capacity
was 60 per cent completed.

A new 12-wire telegraph and telephone line has been fully com- —
pleted, and station agents and operators have been installed.

STEAMSHIP LINE.

The operating expenses of fhe enn line were $1,384, 170.46,
an increase of $225,582.07, or 19.47 per cent, over the previous year.
_ Following the recovery during the last days of 1905 from the damag-
ing effect of the rigid quarantine temporarily established at Panama,
effected by our forwarding large accumulations of cargo at the Isthmus
which our cocarriers had been debarred from receiving, the business
of the steamship line was, in the first six months of 1906, seriously
impaired by the earthquake in San Francisco, as a result of which
trafic between that port and New York via the Isthmus was practi-
cally brought to a standstill (that traffic in the previous year consti-
tuted 80.68 per cent of the tonnage transported by the steamship line
between New York and Colon, both ways), and further by division,
with two foreign lines admitted to connection with the road at Colon,
of business to and from the Isthmus and of through traflic to and from
points beyond on the Pacific, which tended to mater ially decrease the
earnings of the line.

The increase of 19.47 per cent in the expense of operating the line
is accounted for generally by prevailing higher prices for labor and
material and by the larger cost incident to operating two additional
vessels of greater speed and capacity, the principal items being custom-



REPORT OF THE PANAMA RAILROAD COMPANY. 9

house and port charges, fuel, feeding passengers and crew, labor on
cargo and coal, repairs to engine department, wages and insurance, all
of which show material increases. _

As yet no steps have been taken to enlarge the terminal facilities of
the line at New York, but owing to the ‘material improvements at
Colon the steamship business at that point is handled at a cost, con-
sidering labor conditions that is not equaled, and at a rate of speed
that is not exceeded by any port in the world. | |

In my report for the first ten months of 1905 I referred to having
secured for our line, on long-term charters, from the Isthmian Canal
Commission, the steamships Mexico and Havana. The large capacity
and speed of those vessels has materially assisted in the prompt
movement of trafic. They have been renamed Colon and Fanama,
respectively. —

A ~ depreciation fund” for steamers and tugs has been opened on
the company’s books, which is credited each month with a fixed pro-
portion of their book value (6 per cent in case of steamers and 10 per
cent in case of tugs and lighters), offset by a charge to ‘‘ operating
expenses.”

MISCHLLANEOUS RAILROAD EXPENSES.

The combined expenditures under this head, which include lighter-
age, docks and wharves, real estate, etc., amounted to 9202, 28 6.86, an
increase of $19,027.73, or 8.16 per cent. |

GENERAL REMARKS.

During the period from January i, 1894, to June 30, 1906, inclusive,
the percentage of total expenses to gross earnings was as follows:

Per cent.
SOAS a Ge ee ee es 69. 93
SOD Re es ore es Se ee 61. 63
SOO eS re ee a ee 53. 94
1897 (including taxes and appropriations for depreciaion CLC) ae ee 61. 12
1898 (including taxes and appropriations for depreciation, etc.)...-......-.-. 64.91
1899 (including taxes and appropriations for depreciation, etc.)-....--------- 64. 66
1900 (including taxes and appropriations for depreciation, etc.)....-...--..-- 69. 25
1901 { (including taxes and appropriations for depreciation, etc.) ....-.-.-.-- 64. 72
(or including Eaciic lnemot Operated 1m 1900) > 6 76. 34
1902 | (including taxes and appropriations for depreciation, etc.) ......--.-- . 65. 87
(or including Pacific line operated for six months) .-............-...- 71. 02
1903 (including appropriations for depreciation and special repairs) ..-.-.--- 66. O1
_ 1904 (including appropriations for depreciation and special repairs) -..-...-- 63. 69
1905 (including appropriations for depreciation and special repairs) ..---.--. 77.49
1906, June 30 (including appropriations for Eee and special repairs)
cwolve months 92 54

The monthly charge, « on the basis of half rates, made to the Isthmian
Canal Commission, for the transportation of its officials and employees
over the railroad, was advanced to $5,000 on November I last.

A revocable license has been eranted to the Union Oil Company, of
California, to lay a pipe line across the Isthmus, along the company’s
line of road, for the transportation of oil from the Pacific to the
Atlantic side. Its installation is rapidly approaching completion.

Through a new interpretation of the scope of Article XX of the
company’s contract of concession, which has been mutually agreed to
between the parties concerned, it ‘has been provided that half rates be



10 REPORT OF THE PANAMA RAILROAD COMPANY.

hereafter extended to all products of Panamanian origin, whether
natural or manufactured.

It is expected that the company’s new coal-handling plant at Cr isto-
bal, already referred to as being 75 per cent completed, will be finished
| before the end of 1906; and will provide for such discharge of colliers
employed to tr ansport coal to the Isthmus for Commission and rail-
road consumption as will effect a material reduction in cost of fuel
delivered at the Isthmus, and will permit of the necessary accumula-
tion of a stock on hand, which, because of rapid consumption, the old
method of handling has not allowed.

_ In view of the common ownership by the United States Government
of the property of the Isthmian Canal Commission and of the Panama
Railroad Company, it has been arranged, by mutual agreements
between them, so that each performs work for the other at exact cost,

plus a reasonable profit for handling, depreciation, etc. In line with
this practice the products of the electric light and ice plants of the
company have been sold to the Commission and the employ ees of the
Commission and of the railroad company at a slight increase over
cost.

The company’s water plant at Colon has been turned over to the
Commission to operate in connection with the large new plant recently
installed by the latter on the Isthmus, in return for which it is arranged
that the railroad company is to be supplied its requirements of water
at a reasonable price.

Large new machine shops at Cristobal, constructed by the Isthmian
‘Canal Commission, have been turned over to the railroad company,
under lease, to maintain and operate at an annual rental of 4 per cent
upon the cost of construction.

The facilities of the railroad company are very materially increased
in efficiency by these transfers. |

I can, perhaps, best illustrate the conditions which previously existed
and the obstacles which were met and overcome by the company’s offi-
cials during the past fiscal year by quoting liberally from a letter re-
cently received from Vice-President Stevens on the subject in which,
referring to the physical status of the railroad company’s plant on the
Isthmus at the close of the preceding fiscal year, be says:

The Panama Railroad Company had practically nothing more than a right of way
with a fair roadbed which had, however, already proven unequal to the heavy traffic
it was called upon to bear.

Its rolling stock was limited in quantity, small in capacity, and of antiquated type
and entirely unsuited to the demands put uponit. It had not the requisite sidings *
either for handling through or local business, and those that were in existence were
at the end of their lives and had to be rebuilt.

From Colon to Panama there was not a single station building which was adequate
to the requirements of the service, and not to exceed two telegraph operators between
terminals, with no telegraph lines over which a train order could be sent with any

certainty that it would reach destination inside of twenty-four hours.

Its ocean terminals were neither commodious, well arranged, nor had they been
maintained in a sate condition.

The personnel of the road, while in the main consisting of well-meaning parties,
had grown up under conditions which, instead of inducing deyeTopmecnay and progress
had practically kept it at a standstill for years.

The throwing upon the road of the immense amount of back business which resulted
from the occupancy of the Zone by the United States and the commencement of the
work of preparation for building the Panama Canal made the railroad proposition
an almost impossible and disheartening one from the start,.it being necessary in every
department, without one single exception, to build from the eround up to get the

property in shape, while handling not only the current affairs, but disposing of the
vast amount of business which had been delayed, owing to various causes, for months.



REPORT OF THE PANAMA RAILROAD COMPANY. lol

The work of reorganization and reconstruction and the carrying on of the current
business, as well as catching up the past, has been conducted during the past fiscal

ear. |
: The ocean terminals have been more than trebled, and terminal yards, with all
needed accessories, have been constructed, so that we can now point to the fact that
business in the port of Colon over the company’s docks is handled at a cost, consider-
ing the local labor conditions, which is unequaled and at a rate of speed that is not
exceeded by any port in the world.

In fact, the handling of cargo across the docks at Colon is being done quicker and
with less trouble than cargoes are handled over the docks in New York City.

Mr. Stevens, after specifically referring to the important improve-
ments, additions to equipment and a uction, elsewhere referred to
herein, further says as follows:

In general, the Panama Railroad is rapidly emerging from a road suited, perhaps,
for a period of twenty or thirty years ago into a fully equipped, up-to- date railroad
fitted to handle, under the most perplexing and expensive conditions, a large and
constantly increasing modern trafiic.

It would take up too much space to here go into all the details, as only those who
are familiar with the whole situation can appreciate the conditions existing when
the present management took charge of the property, and make a fair comparison
between them and the condition in which itis now with what has been accomplished
during the past twelve months.

The business of the railroad is growing and additions must be made to its facili-
ties; more tracks must be laid, and it is a grave question whether a large mileage of
the road must not be provided with a third and fourth track. New equipment must
be purchased, as the old freight and passenger equipment must be relegated to the
scrap heap as soon as new can be provided.

While much remains to be done, the work of the past year has demonstrated that
the Panama Railroad can, by pursuing the present policy, be made to handle
economically and successfully all the business which is in sight for it to handle.

In fact, during the past six months the only difficulty it has experienced in han-
dling traffic has been from the inability of certain ot its Pacific connections to take
the business as fast as 1t was offered to them.

The Panama Railroad is a peculiar proposition, in the sense that it is a switching
yard from one end to the other. Even its passenger trains must. be handled more
as a suburban proposition than as through trains, and only men who are accus-
tomed to handling trains under such conditions can appreciate what the proposition
really is.

At the annual election held in April, 1906, Mr. John F. Stevens
was elected a director of the company to succeed Mr. John F. Wallace,
who had resigned; and Mr. W. Leon Pepperman was elected a director
of the company in place of Mr. William Barclay Parsons, who had
expressed a desire to retire from the directorate of the company.

Mr. Stevens was also elected vice-president and general manager,
and Mr. W.G. Bierd was elected superintendent. Later in the year,
however, Mr. Stevens expressing a wish to be relieved from the duties
of general manager, Mr. Bierd was delegated to that office.

Respecttully submitted.

T. P. SHonts, President.

PANAMA RAILROAD COMPANY,
ACCOUNTING DEPARTMENT,
New York, N. ¥., October 17, 1906.

Duar Str: I herewith submit statements of income account, gen-
eral balance sheet, and tables showing results of operations for twelve
months ending June 30, 1906, as follows:

A.—Income account and profit and loss account for six months ending June 30,
1906.

A. A. Tpeome account and prone and loss account for twelve months ending

J une 30, 1906.
B.—General balance sheet.



12 REPORT OF THE PANAMA RAILROAD COMPANY.

C.—Statement of earnings and expenses for twelve months ending June 30, 1906
and 1905.

D.—Statement of operating expenses of railroad for twelve months ending June
30, 1906 and 1905.

E.—Statement. of operating expenses of steamship line for twelve months ending
June 30, 1906 and 1905.

F.—Statement of expenditures for improvements and Concrmenon for twelve
months ending June 30, 1906.

G.—Statement of steamer and tug depreciation account.

H.—Statement of classified railroad earnings, tonnage and passengers, Colon to
ae and Panama to Colon.

I.—Statement of railroad freight statistics for twelve months ending June 30, 1906.
J.—Statement of railroad passenger statistics for twelve months ending June 30, 1906.
K.—Statement of railroad general statistics for twelve months ending June 30, 1906.
L.—Statement of railroad freight tonnage handled.

M.—Statement of steamship statistics for twelve months ending June 30, 1906.
N.—Statement of locomotive and car equipment.
O.—Statement of floating equipment.

In view of the change in the company’s ; fiscal year from December
81 to June 30, and the last published annual report being for year
ending December 31, 1905, I have submitted two statements of income
and profit and loss accounts, one for six months ending June 30, 1906,
and one for twelve months ending June 30, 1906. |

In December next the following tables, showing the results of opera-
tions for the four months ending October 31, 1906, will be prepared
and published as a supplement to this annual report, Viz:

P.—Income account and profit and loss account for four months ending October
ol, 1906.

Q. —General balance sheet, October 31, 1906.

R.—Summary of earnings ‘and expenses for four months ending October dl, 1906
and 1905.

S.
Panama and Panama to Colon, for four months ending October 81, 1906 and 1905.

T.—Statement of steamship ‘statistics for four monubs ending October. ol, 1906 and.
1905.



Yours, very truly, : _E. S. BEnson,
< 7 General Auditor.
Mr. T. P. SHonts,
President Panama Railroad Company,
Qh State street, New York Cot

Exauusir A. —Income account and profit and loss account ors six months ending June 80,



| L906:
INCOME ACCOUNT.
Railroad:
GROSSE ALAIN SeorOM! ODECLA TOM soos sce ee ae wee a rae re eee ¢..| $1, 488, 242. 00
Operating GID CTIS CS seerse eee oe a Nee ie Seas Sak Cer aimee ee mia 858. We 11
Netearniines sinOmM OP CratlOn cs soe sas oc use eee eae ne oie ae eee ee ecu $585, 037. 89
Steamship line:
CTROSHeATMIM Se SanOMeOPeTATON: set s2 2. Se ae Se ee eine cece marae ae 692, 372. 88
@POLATIN See x PCNSCS Stance s sore ts Ss ee nee rattan 678, 479.17
INGpeCanmMine strom OperablONa.62- 2s. c.co asec eed se ents etre epee | crea oes Rea craigs 18, 898. 66

Add income from—
Difference between contract rate of interest, 8 per cent, and interest
on 45 per cent bonds, sold to prepay indebtedness due (in 1905) con-
tractor, Hew. venmuinaleat Was Boca se ee 514. 33
s Interest and OX CAMS Cis ease eset Ole int urs ow rence see eee $420, 94
ess—
Tnterest Oct. 1, 1905, to Jan. 8, 1906, on 22 Panama Railroad
Company 4% per cent bonds repurchased from Mackey & Co. 255.75

Se eS 679. 52

Total income ........-- ee Cl ae .| 699, 611.07



REPORT OF THE PANAMA RAILROAD COMPANY. 13

Exuipir A.—Income account and profit and loss account for six months ending June 30,
1906— Continued.

/



INCOME ACCOUNT—continued.

Less—
Interest on funded*debt: First mortgage 44 per cent ponds “Interest
Oni p2;2(2;000 Jani, 1906s co dume dO 19068 62.2 ee ee Pol, 120. 00
Interest OMlOnus eset ee ee 4,785. 76
HMiTsthanorteage sinalkeim os; MIM eeepc ace ce ss eis iin era ae 75, 000. 00
Concessionary subsidy to United States Government under treaty..... 12, 500. 00

Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds, 533 bonds, Jan. 1, 1906, to



JAMO O OOS oes epic ne ea mee 0 Aah $15, 990. 00
Redemption Ol SubsidiysbOnGStea eee tae ee soe 96, 510. 00
——-——| 112,500.00
Drawback on Colombian and Panamanian produce ...................- 1,342. 55
——. ——| $247, 248. 81
Neti INCOME LOL SixemMOnbMGes 5). ase eee a nen Lace S| pe eee ee a pee 342, 862, 76





PROFIT AND LOSS ACCOUNT.

By balance to credit of profit and loss Dec. 31, 1905.-..................- ae Aes Betas otenier a 4,851, 712.12
Surplus from income account for six months CnGdim sy ume BO a1 906 pea ee ee eee 342, 362. 76
Saleot tus Ancomand three old hghters <2) | ee 275. 00
Adjustment of freight accounts for coffee shipments, season 1904-5 .....]..........-.... 4, 030. 61
Adjustment of freight accounts for through business to Dec. 81, 1905....|...-....-... ---| 12,468.61

5, 210, 849. 10
Less—
The difference between book value of locomotive and car equipment, ae
as of date Dec. 31,1905, and inventory value written off June 380, 1906. 121, 315. 04
Sundry accounts written OEE STC see oe Shes ON Sas Raa ee 944, 25
——__—_—_—_——_|_ 122, 259, 29



_—_—

By balance to credit of DLOnt AMG OSs; UMC S07 IOGear eee eee ce 5, 088, 589. 81

'

Exureir AA.—Income account and profit and loss account for twelve months ending June
30, 1906.

INCOME ACCOUNT.





Railroad:
GrossicarninestroOmlOperatiONGs (usa te cts os seca cee ee oe #2, 570, 828. 08
Operating expensessce chee tse es woe oe eas ge onan alae a acne 1, 781, 888. 55
Neiearnings Tromlopentabvlouies- 2.2.5 -.este- cc ces se cae es Vavaia sitet araye etal e allicre ore eect vat pve ctate $838, 939. 48
Steamship line:
p Grosssearnin ss rOm OPCLatlOMeacs 5 2 2 ose oon occas ee eee 1, 347, 012. 25
OPeralin se OxPeNsesy2 ae soe eee sce eee ee AS eS pe eeity ee ens SR aoe es 1, 384, 170. 46
Net OSS HromyOPeratlOMei Heo ees eo access ecto toe a ein ee cuca rarer ae ae ee 37, 158. 21
801, 781. 27
Add income from— —
IMbereSG ONY SCCUTITICS OWMCC a oe eta. Ae Ss ees oe 5, 488. 75
Premium and interest on treasury bonds drawn for redemption....... 1, 377, 50
Difference between contract rate of interest, 3 per cent, and interest
on 43 per cent bonds sold to prepay indebtedness due (in ae con-
tractor news vermin aliat WaBOChig cs csso roe Ve eect os eo cumeeses 6, 769. 87
18, 686. 12
: Interest and exchange......... Become ee eager $11, 371. 57
ess—
Interest Oct. 1, 1905, to Nov. 27, 1905, on 606, and
Oct. 1, 1900, to Jan. 3, 1906, on 22s Panama Rail-
road 42 per cent bonds repurchased from Mackey
Ol COM a en nan onc o ie iia e ie ance eres a8 $6, 846. 00
ENGETeStOnNs1OMNSe ts ee ao oc sce ee eee ches 4, 785, 76
——_——._ 11, 631. 76
———_—_ a 260. 19
— ——| 18,375.93
PRO Ga LTT C OMCs ese aoe ese ws teces cea Seta rermeratete a aero a CODE aio ata gic Siac atals wis ees aim wie isiele ei eeievele 815, 157, 20
Less—
Interest on funded debt first mortgage 44 per cent bonds—
Interest on $2,272,000, July 1, 1905, to J UME BO SLOVG ke eee oes 102, 240. 00
Interest Apr. 1, 1905, to June 30, 1905, on 121 bonds drawn for
redemption and paid by trustees in October, NOOB Hs ees 1, 361. 25
100, 878.75
Kinshmorteace simkine fun Ges rere ce ete eo ce mec eincceas cates 150, 000. 00
Concessionary subsidy to United States Government under treaty..... 25, 000. 00

a Debit.



14

REPORT OF THE PANAMA RAILROAD COMPANY.

Exuisir AA.—Income account and profit and loss account for twelve months ending June

80, 1906—Continued.

INCOME ACCOUNT—continued.
Less— ;
Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds—
Mb bonds dulyaletOrO Gt oll 90D ees ioe cee $14, 800. 00





530 bonds, Noy. 1, 1905; to Jume 30; 1906. ..3.2-52.25- 21, 320. 00
35, 620. 00
Redempuon OmsupsidiysbOnds <2 222- 222222 oe tse ee 189, 380. 00
—————| 525,000.00
Drawback on Colombian and Panamanian produce .:................- 8, 171. 33
—___—_—____| $509, 050. 08
INetin Come Tortwielve months: s sass ses eee ers rete ee ernie | can oe aN eae, 306, 107. 12
PROFIT AND LOSS ACCOUNT.

Byzbalance: to creditor profiivand loss: June 30; 190b 6 =o s eee ea ee 4, 827, 418. 56
Surplus from income account for twelve months ending June 380, 1906.|............... 306, 107. 12
First mortgage 44 per cent twenty-year sinking fund geld bonds,

BS CGC TUN Ce ici ee eee aR ce ean eee ce ene | chi econ Dec 140, 000. 00
Adjustment of freight accounts for coffee shipments season 1904-5.....|_.....-......-- 4,030. 61
Adjustment of freight accounts for through business to Dec. 31,1905...)............... 12,468. 61

5, 290, 024. 90

Less—
To cost of tug Ancon and three lighters dismantled or

condemned during year, written off Dec. 31, 1905 ........ $73, 083. 60

Less proceeds from sale of these vessels ........-....... 275. 00
es SERRE 72,808. 60
Difference between book value of locomotive and car equipment,

as of date Dec. 31, 1905, and inventory value written off June 30,

ALC eee ees eee rere SS Seg rece a Sega ak eee en eas Su aC tage rn ae poe 121,315. 04
SUMdinvV. ACC OUMLS WrlGbeM Olt We beepers ee eee ere 7, oll. 45

——| 201, 435.09

By palance toerediior promt and loss: Jume 30; 190642: 2-228 scan ellen ase 5, 088, 589. 81

ree = ot



Exuipit B.—Balance sheet June 80, 1906.

2 3
Cost of road; real-estate; and equipment.:--- =<... 22222102. ee |



$12, 422, 592. 55
(Improvement ang Construchon acCOUMisne.-2- 2-222 -4-\oeeee- ase 483, 728. 84
Floating equipment: |
Steamers Allianca, Finance, and Advance........-.. $596, 749. 66
Muss angeliohterss.s: se aes a Cs ee ee oe can 290, 948. 80
ee 887, 698. 46

Motaleost-Of property css Pees os a ee ee 13, 794, 014. 85
Bonds in treasury:
- 100 6 per cent Panama Railroad Company sinking
FUNG SU DSIGy DONG Ses cs Sec eee ee 100, 000. 00
628 43 per cent twenty-year gold sinking fund bonds.| 628, 987. 50 Be oer ea
ee — —— 728, 987.





On deposit with financial agents for redemption of
bonds:



4; per cent twenty-year gold bonds.........-....--.- 2, 565. 36
6 per cent sinking-fund subsidy bonds .............. 8, 000. 00
——_ 10, 565. 86 ||
Advance of subsidy: to Republic of Colombia. -<-2.. 2.22. \- 2s.2252.2-2.- 588, 000. 00
Current assets:
@ash invbanksrand -wathvagents.s. 2255226223 e 421, 128. 67
Coaliand:suppliestonrhandes 23 ae - 627, 956. 28
Due from connecting companies .........,....-..... 229, 920. 78
Due from United States Government—
Isthmian Canal Commission........ $268, 186. 81 :
Post-Oiice Department... 4-223 51, 887. 88 |
Navy; Department: --2- 23.22.23 = 10252
———_—_———| 320,085.21 |
Due from companies and individuals...............- 108, 177. 67
Miscellaneous aCCOuniss. 22 3 (See a ee - 826,174. 39
Unearned insurance and charter of steamers......-- 538, 718. 67 |
General average disbursements. ....:...2...:-....--. 266.7 |
1, 982, 428. 37

17, 048, 996. 80



|

Capital stock
43 per cent twenty-year sinking fund gold bonds (au-
thorized issue, $4,000,000):
Issued to date (4,000 bonds, less 981 bonds previously
redeemed)
Less drawn for redemption in 1906...................

ee ee ee ry

Total capital stock and mortgage liabilities........

6 per cent gold sinking fund subsidy bonds@.............
Bonds drawn for red mption not presented for payment:
4+ per cent twenty-year gold bonds .-
6 per cent subsidy bonds

Funds for redemption of bonds:
4% per cent twenty-year gold bonds
6 per cent subsidy bonds

err eee ee ee ew eee ee



$8, 019, 000. 00
140, 000. 00

meee te ee tw tw we

2, 145. 00
8, 000. 00

137, 920. 36
175, 935. 00

Equipment and plant replacement RUINS Heese ere re eee ee ee

Current liabilities:
Dne to United States Government—
Concessionary subsidy accrued. ......
Bills payable—For cash appropriated
through Isthmian Canal Commis-
sion for new equipment and im-:
DLOVCMUCINEG Se epee ae eee: . 450, 000. 00

$9, 375. 00

Iisthmusidratis mot-presented=s-2 2-22).

Coupons not presented
Accrued interest on bonds:

44 per cent twenty-year gold bonds

(2,163 bonds)

6 per cent subsidy bonds

ee eo)

25, 560. 00
5, 3380. 00

Audited vouchers and pay rolls 23: 20-2. 22 23. 22:
Due to.commecting: lin estan ee a
MiscellamecousaceOumMts =p. se ee ee
Unpaid wages

Balance to credit of profit and loss

2533 six per cent gold sinking-fund subsidy bonds of $1,000 each, amounting to $533,000, issued Noy. 1, 1880, fall due Nov. 1, 1910.

To meet his bonded indebtedness, $225,000 annually of the Colombian Government subsidy was pledged till Mar. 27, 1908, the same to be applied by the company,
first, to the payment of the interest, and, second, as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an
amount equal to the then surplus of the subsidy sinking fund, the drawn bonds to be paid on Noy. 1, after each drawing and thereby redeeming the whole issue in 1908.

459, 375. 00
113, 720. 25
9, 127. 50

30, 890. 00
488, 750. 64
45, 005. 12
21, 095. 51
9 449,79



$7, 000, 000. 00

2, 879, 000. 00

9, 879, 000. 00
583, 000. 00

10, 145. 00



3138, 855. 36
46, 992. 10

1,177, 413. 81
5, 088, 589, 81

17, 048, 996. 80

“ANVdINOO GVOUTIVE VNVNVd HHL WO LeOduy

a



16 REPORT OF THE PANAMA RAILROAD COMPANY.

Exuisir C.—Statement of earnings and expenses for twelve months ending June 30, 1906

















































and 1905.
EARNINGS.
Be *
1906. 1905. Increase. | Decrease.
Colon to Panama:
SHIRE TOG oe Se ta Fikes a ee ea vere ie ie rotgs cree $1, 171, 910. 39 POAT OMG Oli 22483408) |e eee
IPASSCHIPCLS eke eke oe oe ees resis oes ot 107, 247. 66 72, 518. 57 Ba i290 OO) ei es ante
NENT See eerie arn Ne pean noes ore ges 86, 775. 02 73, 487. 68 NBS 28 Te Bae Sec . Geccer
* _Bxtra paeeaeel MBS Spepat ce apie aeetccave aa Sepeieis a 17, 795. 64 14, 577. 63 » Solon Ole ese es sas
MrCAsinowe ek ee ee | 12, 090. 09 [BODIE OL yeep ekes $1, 160. 92
Mota vee ee ee i eae 1, 395, 818.80 | 1,120,911.20| 274,907.60 |.........--.
Panama, to Colon: a a ae
ROTO Mites eee ee ie ase ere Glad miatare 546, 479. 29 548, 085. 21 "3, 394808) ace epee Bh
IBASSENSersen eho. Ie Talaeee sae ene aparece rc oe Se 92, 899. 26 63, 358. 45 29: D465 8s eee sec cree
Milani Sears eee Cen re Mec e cveraeieeetare Sie oleras 6, 477. 61 De GO als (OFS CO eG Ses
EEX NAO AGU Ore eevee Se repeister oe eaisniars 12, 388. 75 10, 471. 57 IS 8622188 Mereeer eee
ENTCHSUMC Hae Nore sha sciie Sin bare ats Se eeenene 13, 800. 40 WA ODL SOU eee 1,154. 40
MOU eee oa eee ’ 671, 990. 31 637, 637. 99 Sa oooh ORT sen came ees
Miscellaneous: a
Wnioiterseer 2 eee ee. Sooners 66, 852. 32 43, 870. 27 29.989) ()5i|sa3 obs
Water supplied shipping...........-...--- 25, 937. 39 19, 669. 31 Wess} loscsosbonsss
Rental: Ol propenbyer sss se ecemcee ea ae 23, 082. 48 DO DAT R20 | emer BS antany - 6,164. 78
Wharfage and light dues—Colon ......... 78, 158. 00 54, 425. 50 Darl 2iOOM cae ee
Wharfage—Panama and La Boca.....--..- 169, 332. 70 LQO8OR 62; |b cemer eer eae. 10, 606. 92
Cranage earnings, La Boca ...-.--....- Boke 19, 249. 09 QU Dee bison eee eee ie 962. 06
Storage and freight handling............. 18, 823. 15 9, 235. 51 ATI OTOA IR peepee se cie os
Meleg rap hye ees ees. ee Acne aes cies 2, 048. 94 econOlGrO2 cP eteis se ae ee eli .08
Miscellaneous earnings, other sources.... 104, 544. 85 PBOROUSEO4 ess eeeee ee 34, 528. 79
WROLA Ver oreo Gos Sees Suen er 508, 018. 92 500, 288. 78 DESO Aa: Berne as rae
Total railroad earnings............:.-..| 2,570,828.03 | 2,258, 837.97 | 311,990. eee
Steamship line: a .
Hineioltieeeg ieee eee a oor 848, 564. 29 O21 28004) ee 72 (16125
IPASSEN GEMS Se. sce. eS. a VScom eens wee 316. 258. 10 262, 3380. 53 BBY CPI TEs Soon ncone
Mail Se eos ac oss BPO eps ae spt enor Rei Lgisy oa 156, 134. 76 110, 086. 40 46: 0485865 oe Ose ee oe
Xtra DACP ATC estes s sssceece oe 5c ae aeeros 2,706. 52 Sy OOM LO eerie sees ee 745, 27
PRTRCASUMC ior cis ees aie ccs eis we ease oe ose iore ars 12, 096. 73 TOMO GRO (leans neers 9, 24
Wines and liquors ...--- Riles see cee ee 7, 018. 20 5, 002. 31 PO LOCC OM eae ee
IVEISC CUI IMC OU Ser ences eee eee ce _ 4,188. 65 1, 026. 34 SO plOge Oleg eter se ctee
MOt@ eee ee ee ee BAT Ol 2oa | ol oloooonee SPIT SNO Tl eaas ee wees
Grand total earnings .....---.:--------- 8, 917, 840.28 | 3,574,671085 | 343,168.43 | .
EXPENSES.

Railroad operating expenses:
General expenses, New York.....--.---.. OO; 400s: | OD) O2956D: |e ose a $359. 50

General expenses on Isthmus Sins aa ae 69, 996. 89 34, 329. 50 POD OOMROO. lee eae clasts
Conducting transportation .:-----.....-2- 914, 647. 85 596, 208. 64. BOO PASO se 2M | ores eros
Maintenance of equipment. --2.---.2---.: 138, 557. 51 14 OS0HO4 es ae ees 2, 4738. 48
Maintenance of way and structures .....-. 300, 979. 29 158, 337. 19 4D GAZ AO! ole ese ee
TSW TCLARC eae sae ae oe, So Se wa elas 128, 645. 27 81, 710. 65 AL 934062 | a sce ae
Docks and wharves, maintenance........ 56, 016. 06 QOAQTEOB els oe 40, 111. 62
Real-estate expenses....-...:---...------- 54, 449. 40 38, 089. 83 1G SOON OV les cee ase as
Loading and discharging vessels at La

Boca esse" Dao rs eta See rae even iy 18, 126. 18 17, 280. 97 S4571G6 ees cee



Total railroad expenses..:-.--.-.----..- 1, 7381, 888.55 | 1,178,945. 05 DO?) O43 v OO soe eee

pa |



—— eS

Steamship line:

General expenses, New York............. 29, 018.15 BOSS Robe hee eee 3,120; 4s
General expenses, Isthmus ............... 36, 015. 43 19, 8382. 97 NG RS2246 sc seceoenee

Pie OUCAIMET CXPEMSCSs cet -isa Nels sees 1, 069, 680. 98 787, 560. 06 SPW GPA Nesancgsacuce
AS CNCY;OXPCNSCS Wise. 2 oct oho eos anes 127, 831. 09 PL, 212538 LDS613y TS ee eee sree
Charters Ol SUCAMEIS sec. 6 «se sss Sais 121, 679. 81 2062849342. | cece sacece 85, 169. 61

Total steamship expenses........,.-.--- 1, 384,170.46 | 1,158, 588. 39 295, SSQE OTE or rs eee

SS ES SS SY [rE EE

Grand total expenses .....- Soc nse s 3, 116,059.01 | 2, 337, 533. 44 MIS O2De OTe eae



REPORT OF THE PANAMA RATLROAD

COMPANY.

1%

Exuisit C.—Statement of earnings an expenses for twelve months ending June 30, 1906
: and 1905—Continued.





































Decrease.

Ce

$240, 953. 44

eee ewe ane noe

=e ee ee eee eee

435, 357. 14



SUMMARY.
1906. 1905. Inerease.
Railroad earnings: ;
Colom tovRanamak ys jos ees eke $1, 395, 818. 80 | $1, 120,911.20 | $274, 907. 60
Panama tO:;COlOM a5. eee eee 671, 990. 31 637, 637. 99 34, 352. 32
PMUSCellameOUSesce asst ee es eee See 503, 018. 92 500, 288. 78 ~ 2,780. 14
Total railroad:earmings -.-:.-....-...--. 2,570, 828.038 | 2, 258, 837. 97 311, 990. 06
MTotalrailroadsexpenses: 232-4522... 5- 2: 1,731, 888.55 | 1,178, 945. 05 552, 948. 50
Net: Carningss 20. este ee ye ee. 3g. 989. AS cl 1 O79 892 02a es ee ees
Per cent of expenses to earnings ......... 67.37 52.19 15.18
Steamship line: 2 ee
Motallearmines ees eee Seale 1, 347,012.25 | 1,315, 883. 88. 31,178: 37
MOtAl OXPeNses ojos oe EE 1, 384, 170. 46 i 158, 588. 39 225, 582. 07
Netieannings ip haen ears e @ 37, 158. 21 157, 245. 49° AOS eee aeons
Per cent of expenses to earnings.........- | 102. 76 a 88. 05 14.71
Grand total earmingss2.- 5335.62. 3. 917, 840.28 | 38, 3.57 4, 671.85. 345) 168. 43
Grand total expenses “42222-6292 3, 116, 059. 01 2. 337, 588. 44 778, 525. 57
Mota lenet CALM Se eee ee SOM SU soe lS (SS. 4 tne hae oes nyie
Per cent of expenses to earnings ......... "79. 54 65. 39 14.15
a Deficit.

‘

Exursir D.—Statement of operating expenses of railroad for twelve months ending June
30, 1906 and 1905.



_ General expenses, New York.

Advertising, folders and posters ................_...... te SS oe eae eons

Advertising, general

Clerks, salaries

wae eerste ee meee ete we ee eet eee eee ee eee te ee ee ee te ee

er cere este ee ewe eee eee eet ee ee ee eee ee ee ete

DITE CONS AN GsCOMMMITTCCS TCC et ee re cE re a Be

General offices, repairs and rent of

coe et ee en ttt et te weet ee ew ew eee ee tee tee

GeneraloticeswotherexPeNnses ne eee Sree ee

Incidentals

weet eee eee wee ee ee ete eee et ee te eee ee ew ew eww ee ee eee ee

Me SASeL VAC es ANGI OX PCNSCsee eee eee ee ce ee te ce
Oficersssalaries Of 5. Set See Pee ca am He Si ESO NGI OLN NON GORY Ooze

Stationery and printing
Telegrams and cables

Advertising
Cablegrams
Incidentals

Legal expenses
Miscellaneous

errr eee mee we et oe we ew eee ee tee we tet ee we ete we eee ee ee

ert tee eee we em ew ee we ee ete ee tt te ee eee ee

wre ree et ee wet e eee ee ewe ee et eee eee ee eee tee ee

Glenksiandeattendants, salariesof 99) 7
Hospitalccrvyice 6 9 a ee

sewer wm wee ee te ete www ee mee ee wee ewe eee eee eee ew ee ee eee ee ee

Officers, salaries of
Office expenses and supplies
Stationery and printing

eee eer we ee eee we ee ete ee wee wee ee te eee tee eh
errr eee et eee ee eee ew eee te ee

wee eee ete eww eee eee te ee ee

MUO Uae ee te os Be BM en eh OS SG AE een rob Pee tea rn o Stay gees

Adver Hone.

Ineidentals

H. Doe. 415, 59-2——2.

Conducting transportation.

Clearing wrecks
Engineers and firemen
Fuel for locomotives
Freight agent and clerks, Colon

weecerecec entree ema se tr eee eee wm een eee ee te ewe enw wesw nen ec wm wwe ee we wae ee
eee ee wm eee ee te ee ee Be weer ee ewe we eee wee eee ew we ewww wee ee tes
cece eet te tet eee ew Cee ee we

Freight agent and clerks, Ranamea and Way BOCa 22-26 se ee. sore \
Injuries to persons

See w ne

eet e te te tee eee ee ee ee eee eee

wre em mer eee mee eet et ww emt eee te te te ete tet te ew ewe te ee





1906.

$143, 90
180. 01

18, 523. 92

4, 031. 20
3,572. 41
4,120. 24

5, O71. 61

16, 288.78

2, 493. 51

1, 044. 57

56, 470. 15



55.15
34,179.11
1, 089. 38

10, 800. 80
719.09

1, 158. 05

8, 497. 11

9, 465. 11

1, 542. 56

2, 545. 58

69, 996. 89

1, 848. 15

1, 083. 90

78, 212. 05
75, 528. 57
35, 883. 14:
50, 997. 94
1, 662. 35

695. 82

1905.

$241. 02

1, 187. 38

55, 829. 65

36. 66
12,149. 44
589. 54
5, 687. 80
175, 21
1, 967, 50
4,065, 21
7, 467, 62
1,207. 97
932. 55

34, 329. 50

1, 524, 22
48, 62
40,749. 91
51, 497. 05
92, 112. 18
81, 892. 77
559. 65
846, 55



i

138

REPORT OF THE PANAMA RAILROAD COMPANY.

Exuisir D.—Statement of operating expenses of railr oad for twelve months ending June 30,

1906 and 1905—Continued.



Conducting transportation—Continued.

Labor, Colon station
Labor, Panama station and La Boca
Oil, tallow, and waste
Other supplies for locomotives’
Roundhouse men
Superintendence and clerks
Switchmen, yardmen, and yard: wate hmen
Station agents and clerks
Station supplies and expenses
Stationery and printin
Train conductors, baggagemen, flagmen, and brakemen
Train supplies and expenses
Telegraph expenses
Water supply for locomotives
Rent of buildings, ete
Loss and damage, freight. and bane
Outside agencies

see eee wee ew eet ee ewe ee eee ee ee
Se ee rey
ween ew em we ww wwe ee eee eee ww ee OOO ee
weet ew mt eee ee em wet ee mew ewww ww ee eh ee
wee tt ee ee ee em et Oe ee he te ee eee eee ee
ee wee em ew ee ee er eee ee ee ee ee
~e eee ee we wee eee ere eee
eee e te ee te eee te wee te ew te ewe te eee ew ee we ee et ee eee ol

Se ee i er ard

SES Nc Haale Ra cece went
Re Care ctenc ssuc Sena RO aes eae tie ae RUE pC eRe
UIE SRE ORS ae attest Tee nat ae UANG nt age REE eR RE UPR Rae ANC EEC
RaV SIS ee eget lave oes wate ra ra een epey Se ee Seca ava rupee Sunt ete Rea aas
Si aT ett ERTS Bia oa Saag ans OEY operas Meas Tecan y Trin
BiSis Ged th SIS RSS Sy ee SN See pepee rears SVN AS

ene ee ee ee we we wee eee ee ew et ewe ww we tt eee eee

Maintenance of equipment.
Freight cars, repairs and renewals OTE SN rate aha Sine rerees a tata) ave wn Rapes
Incidentals
Locomotives, repairs and renewals of
Passenger cars, repairs and renewals of
Superintendence ATO CVO Tee Sree eis oie eh an a eee ee nee
Stationery and printing
Shop expenses
Shop machinery and tools, repairs and renewals Of. ---.2.-2.-25--F2. 222:
Work cars, Tope aud renewals. of

ec eee wm tee wee et hee ee ee wee ee ee eee hee te we eee ee ee
were eee ee ew ete eee eee eee eee ee

eee eee eee ee tee eee ee ee eee eee ee ee

eee en we eww we ee www eee ee eee ew ee tee eee ee ee eee

ee ee ey
eee eee wee ee ewe ee meme ee tee eee

Se ee ee a er

Maintenance of way and structures.

Bridges and culverts, repairs and renewals of
General offices, repairs and renewals of
aT CTO Ibe Sears cee sets ses cdg eS aarere oak eel nieve eure cise tol Aur em oun gases iape Marre eaarates
Machinery and tools, repairs and renewals of
Rails, renewal of
Roadway and track, repairs of
Road crossings, signs and cattle guards, repairs and renewals of
Superintendence and clerks
Swatchesand: trocs Spikes and rail fastenings, renewals of
Station buildings, repairs and renewals of.
Shop buildings, water.and fuel stations, repairs and renewals of............
Stationery and printing oe

Section houses, tool houses, ete., repairs and renewals of
Ties, renewals of
Telegraph, repairs and renewals of
Weeds, brush, grass, etc., removal of

eee e em meneerer eee eee eee eee eee eh

esse eee ee em ee ew ee eee eee ee

wen eee ee mee ee we eet eww eee wee te we
wee em me sree em ee eee ee em et twee eee ee eee ee ee wee tea ee ow woo
ee te tt et ee emt we eee et ew ew eet ew we eee we eet www ew ewe
eoeeense ewes

wm ene wm eose eee em ew ent tet ew wee ee eee ee ee

ewe eeerenseeene ee eee ee ee et oe ee he ee eee

wee ee we we ee meet eet ew ee me ee

wen eee ew ee wom em eww eet eee we wee woe tee ee ee eee ee eee ee
esr ee em eee eee oe ee eee
wee me eww eee ee wee Cet eee ww Oh ee eee ee eee ee ee
eee eee emer wee ew eee ee eee te eee wee ee ee we

eoer mew wm eee we wm eee eee eee ee ett

ee ee ee eS er i ee ard

Fuel and water
Incidentals
Labor on cargo, Panama
Labor on cargo, Isla de Naos
iShters; repairs ana TenewalsiOli.-: sles cer sche cs hsece scot ceases.
Other lighterage equipment, repairs and renewals of
Supplies
Supernmmtendencesand: Glerkgec.c 25 xis Sie. se Seelam ei a eee
RS UO SUS USING Ca U1t Screen ce alate ei dale erie ee cere Sere eles aco ears
Nulbsistenceslaborersmlsla: de NaOSe. 22622 sos ene eee ecient
Tugs, repairs and renewals of
Tugs, expenses while out of commission
WIBIOS OL CLOW Sis oso nos Seta See eee BSN et Cea Rar nae eas era gua
Depreciation ofbugsand lighters 352s esate see cece Seer

“eee we ween we ewww eee eee reer eee Hwee eo
eee ewe te ee ete eee eee wet ee eee ee te ee ee ee he He ee eet ee et ee ewe
ee ee ee ee er

ere eee we ee ee ee Oe eh ee ee ee

enw ene mee eee tee ee

ee

t
eee ee ee sew eet ee ew wee eee eee

cee tt ewe wt te tw tet mee ht we tee te ee ee

eee eee ee wee mee ee et ee we te eee ee eee eee eee |



1906.

1905.

$170, 861.09 | $109, 609. 76



150, 882.89 | 100, 225.79
4, 208. 25 2,081. 53
2, 668. 91 1, 457. 34
22,009. 30 9, 021. 28
6,187.91 | . 3,578.00
101; 292.26 | 60, 928.77
48,919.26 | 18, 048.44
33,048.39 | 26, 101. 96
13, 264. 65 4,995. 24
59,584.80 | 30, 956. 82
18, 540. 96 5, 659. 74
94,967.46 | 13, 279.76
6, 150. 68 4, 862. 98
ez 1, 112. 81
11,349.71 | 10, 300.58
4, 887. 64 4,761. 89

914,647.85 | 556,208. 64

44,617.45 | 46, 848.99
10807 || ee
49,528.30 | 54,465. 22
14,469.65 | 14,741.58
12,089.98 | 18,548.91
457.17 938. 38

2, 646. 75 657. 58
10, 199. 17 9, 124. 39
4, 440. 97 1, 405. 99
128,557.51 | 141,030, 94



25, 119. 40
4,091. 83

2, 499. 97.

3, 931. 95
30, 620. 04
67, 064. 70

216. 87

2, 406. 90

7, 222.18
14, 264. 49
44, 364, 75
14, 643. 87

1, 438. 00

497,31
93, 728, 44
56, 528. 97

2, 409. 69

300, 979. 29 |.

7,754. 54
1, 927. 39
89; 172. 94
6, 789, 20
11, 539. 16
1, 924. 04

17, 997. 18



128, 645. 27





——_

12, 839. 48

29, 630. 09
15, 426. 09

158, 337.19

6, 661. 55
24.00
21,164, 94
1, 469. 51
20, 519. 76
3,707. 92
4, 580. 61
2, 946, 48
1, 987. 78
2,088. 90
9, 440, 27
304. '70

6, 914, 23
6, 900. 00

81, 710. 65



REPORT OF THE PANAMA RAILROAD

Exuisir D
7 1906 and 1905—Continued.



Docks and wharves— Maintenance.

Docks and wharves, Colon, repairs and renewals of
Docks and wharves, Panama, repairs and renewals of
Harbor master and light-house keeper
Light-house, repairs and renewals of

Light-house, supplies SCOR Bea OA mh Pee ES cee ee Seco SNe BPO ar ed Sete eieieserrerorr alte

La Boca pier, repairs and renewals of
La Boca basins, dredging of
_ Clapets and dredges, repairs and renewals of
Buoys, repairs and renewals of
Rental of dredges, clapets, ete

we ewe www eee ewe ew eee eee ew eee
eee et ee ee wt we ee ee ewe
weet we em et ewww ee eee eee ee
ene wee ee eee wwe ee tee ewe ee eee

Total

eee ee te wwe we wm ee ee ee ee tee et ee ee ee

_Real-estate expenses.

Colon buildings, repairs and renewals of
Colon buildings, repairs of existing furniture
egal and other-expensesrsns. 256 5 OS ee eS ia es sees Bea ee
Water for company’s buildings

i ee ee |

i i i i rr)
eee eee eee ee et ee eee eee et eee he eee te

Loading and discharging vessels; La Boca,
Transporters La Boca pier, fuel, water, and supplies. Bia ere Cees See ee ones
Transporters La Boca pier, repairs and renewals of
Labor on pier
Other supplies and expenses
Pe penses, transportation freight by lighters between ships lying at wharf
and shore

eww eerste em wee een ee eee ee
wc eee wm ee tw wee we wee eee ee ee eee et ee ee ee ee ee he te ee ee
See ee er i ee ee a te ee ay
wen ee wt we et ew twee tee ew ee ew Oe ee ee ee

een meee ee eee ee te et ee ee ee wee ee ee

sent eee eee ee ee ee ee we ee ee ee he

COMPANY.

19

D.—Statement of operating expenses of railroad for twelve months endin gy June 30,



1906. 1905.
$28,971.55 | $12, 945.97
2, 661. 51 806. 90
1, 215. 48 - 930. 84
62, 38. 780
58. 00 - $0.96
a1, 854.78 8, 107. 44
502.43 | 35, 968.58
24,389.23 | 32,382.47
10. 26 64, 41
ea eee 4, 823.31







27,289.00 | 26, 129. 46
15, 819. 86 1, 532. 74
11,125.70} 9,835.25
214. 84 592. 38

54, 449, 40 | 38, 089. 88
8,630.39 | 1,116.36
9, 803.17 4,797. 30
11,036.79 | 10, 410.07
ee a "44, 82
655. 78 912. 92
18,126.18 | 17,280.97
658,216.15 | 391,546. 32



aCredit.

EXHIBIT E. ee of pend expenses of steamship line for. velve months ending

June 30, 1906 and 1905.



General expenses, New York:

Advertising, fold ers and posters
Advertising, general
Clerks, salaries of
Directors’ and committees’ fees
General offices, repairs and rent of
General offices, other expenses
Ineidentals
Legal services and expenses
Officers, salaries of
Stationery and printing
Telegrams and cables

wm mem m we em em et ete te tet ween ewe mw wee ew ee eee
ween eet te em et et eww we eee Oe tee eee ee
tt tt te ee mw ww
eee et twee emt treme tee eee et ee
we mew wee ee te te we twee ee eee ew ew tee et em wee
weet et we te mt meee em em wm ww wee mw wm ee ewww ewe eww twee eae
wee we me ee ee eee ew ee ee
Ce cee me tee ew ee cw ewe et et ew we ewe we te we te ee
eet tt tm te te mew ee ee et ewe ee ewe eee ee we
ect te em me ee ee eww ett ew ewe wt eh ee

seer e eee we eee he ee eee ee ee te

ower nem e eee ee eee ee ew tC ee eee ee eee ee

Advertising
Clerks and attendants, salaries of
Cablegrams
Hospital service
Incidentals
Legal expenses
Miscellaneous

Office expenses ana supplies
Stationery and eee)

Total

“eee ee ww wee ee ee ee ee ee ew eee ee hee eee eh
wee eee ee ee ee ee ee
wre em ew wwe ewe eee ee Ce ee ee ee ee
ene ee ew ene em we meee eee te tee ee ee eee ee
e-em ewww eww ee et eee eee eee ee ee he he
eee ee em wet ee we ee ee ee Oe ee eh

were etree eee ee tee eee eh

wen eee ee ee ee eee he

cee ee me ee ee ewe et ee ee ee ee

~ em ner ese eee ee te eee ee ee ee ee Oe ee





1906. 1905.
$68, 81 $142. 57
103. 89 108. 45

9, 679. 37 8, 189. 38

Te 2,598. 51
2,112.08 1, 495. 34

1, 847. 00 1, 087. 59

2, 067. 55 1; 109. 75

2, 626. 47 9, 513. 95

8,627.78 | 18,520.81

1, 317. 39 715. 88
562, 81 656. 38

29,018.15 | 32,183.56
27.72 22, 94
17, 595. 57 7,118, 12
522, 68 3819. 68

5, 701. 32 3, 245. 00
331. 16 79.76
612. 55 1, 146. 30

4,176.47 2,279, 88

4, 889. 95 4,301.76
810.19 771. 62

1, 347. 92 553. 56

36, 015, 43

ee ee

19, 882. 97

\



20

REPORT OF THE PANAMA RAILROAD COMPANY.

Exacweir i. — Statement of operating expenses of steamship line for twelve months ending

June 80, 1906 and pet Compued:















































1906. 1905.
Agency expenses. ;
‘Advertising, NOWSPAPEIS 2. Soe Ba eto ee ee $3, 709. 69 $2, 593. 40
Buildings, docks and wharves, repairs.and rent of...-..:........- UR eee 47, 962.17 40, 488. 38
Buildings, docks and wharves, other. @Xpenses: :: 3.52. eae ae 6, 269. 65 7, 301. 50
Gommissions, passengers Beasts sone et GU See coe Sere AS ong aay SUS a ad fate NRE re Sees 1,190. 85 1, 750. 94
MAUNGUIT AT COR es re eS SIS OS PSs Soe es EE Ae ee ES tae ae : 1, 158.00 1, 158. 00
Injuries to DOnONS LOL Rae ere aC s NSH yO! sees eee
BACH S ee ee ei Cs Cee ra Sy Ree var eo 60. 00 59. 85
MER O IR CM eral nm asco acai eee ea eo een ae iy eee ertee cea 19, ee 90 19, 061. 95
she galisenvices and CXPeCNSeS)) 5.5220 os ee ee a! ARQ’ |e eee noe ace
MUQSS A GEG AMA Or ieee hae IE NTs SES a Ce CO Crre ot iy gion 88. 14 138. 06
Balames:Olarents and Clerks: : 2.5. eh ee 41, 497. 64 32, 958. 48
PeUMtOMeLY-AnGprimtinge 5526 ee ee ae a | 2, 665. 71 2, 843. 90
‘Telegrams and cables........-.......--2-. Se SOU AAUD ODORS us Baa cara Maun uaR Ne nO 302. 69 63. 61
SERV ROS eee eee kee igs 1 AU NERO RE Wet Fe MOR Oo UR ES Dm ea ane GREE 1, 200. 00 1, 188. 89
MUCSIGe AEENCIOS eo ee so es kos ee ee ee 2, 604, 15 2, 730. 97
RO teu ee ee eS Se Sa ee eee 127.831.0973). 112,212; 38
Steamer expenses. :
Custom- heuseandsport: CHATLES <2 kee a hee ere 12, 486. 50 6, £42. 94
SND OCIS SoS ec ee Spee cre SN SS TSS Oe Nee er pennant ies 1,170.10 344, 05
‘-Equrpment, deck. department .. 255. 056 225. a ee es je eee ee oe: 19,920; 21 11, 545. 63
Equipment and spare machinery, engineer’s OO SOR aircon eee U;,127. 32 1699 2h?
SHquipment, commissary department i. 25-2622: ss ee ee ee 15, 974. 59 10, 485. 66
SRUILOI Sire cians Gosstros See keg Sake acl Scio cee he ect See es i ec | 170,552.06 | 128, 892. 90
‘Meeding passengers and crew............--------- eee Ne pices eases eet Pos lO 2o5008 99, 267. 74
MEAG RO eGo reee eaolaeiseaa ee eceeeee A, 905. 98 3, 294. 19
slay UTES MCOSPELSONS! foes oo Oe ES Po es ee ee eee eel 196. 00 409. 15
Labor on—
UTE Oe ese ee a ee Laue ocean io oe ats 202, 023.40 | 171,588.39
Beeps errs ie eased hr ke a ser cta a Hana eee ale sya ra papas GN psec aa I pt 24, 356. 77 17, 689. 92
INS IOS eo ee ee ee ies BS 2 CRN AS ee oe emsoarec a Sh | 1, 254. 10 1, 076. 70
PGORS AMO GRMALC B28 focus oss se PE ee ee ir 6, 940. 40 | 4,910. 62
BOs amdawaste 6. oso ee ee | 4,082. 69 3,404 21
BaIntino ships bottom =... \0 a ee ee 2, 700. 02 1, 939. 00
PUT OTA SRI COW AR Cis se oa ce ae asters ea ale ee re en Te Ce nee 12,505.19 10. 356. 74
Quarantine sie. es ee es Bee eee ee ee ee oe ore eee 1, 858. 87 926. 00
Repairs deck departmento 0.4) 2. sce. s eae ee be eee | 30, 022. 42 16, 841.66
Depreciation and extraordinary repairs, deck department.......-.......... 24, 935. 00 26, 848. 79
PVE pairs eneimexGepartvimen G2 oecs: os scsi Gos soe ccc Sales se iareeins ae aeons 49, 940, 72 27, 515. 68
Depreciation and extraordinary repairs, engine department...........-. Sas 12, 467.50 18, 174. 41
Repairs commissary. department... 3.52. ee ees oes eens = 11, 789. 10 5, 089. 08
+ Stores: ...
Peck Enpoimeidepantment:<.2..2-- 5 sacs css se see. ca SEE naa Bo lars Uae 11, 078. 26 | dD, 048. 38
- Commissary MLCT AT UIT CTUGS eee eee Ls SE ee Cer eee OS ea ae 5, 171. 88 2, 453. 80
Surseontsidepartment 22 ont: ace eee anos ot es ee cee oe eee eee 605. 05 431. 44
Stahionenycandeprintine 224 2 oo ee ecco het ic ee aoe See ee eee 1,125. 04 1, 419. 73
pbelesrams and Caples: 2-2-2. -- =. fee sel Sascisce ees eee 2, 622. 67 972. 54
VINO es ee re ee a ce Sesame ay ie ens Sovarstars cisieisieeiia ose seine pare emer .-| 205,994.17 | 160, 584. 37
pWater.....0...- PR sia ose ses aCe Sia oee Teese Germ T eee ae Papeete ce 23, 665. 58 18, 146. 42
PVH Dae es eee ee re Ge ee cre Ree Nearer ees ONahe en ao rae ee eager 6, 548. 18 4,765. 44
iumence: ee 57, 846. 83 23, 252. 16
Total EUS a Rye teen Uae Shenoy See ayn Ae Ls See nea ae alace sare Coe eins eereen| a. 069, 680.98 | 787,560. 06
CNAEUCTIOT STC AIMIOTS ei eM een or nee yas ere Sia crt ere aia seiaatieis | 121, 679. 81 206, 849, 42
Gotan Gato tale oye ae eee ort Nar eines Oe ice Seas Siete mere mmc nere | 1, 384, 170. 46 |1, 158, 588. 39

Ex arpit F.—-Statement of expenditures for improvements and construction for twelve
months ending June 80, 1906.

Locomotive and car equipment: :
| $297, 641. 09

HSOCOMOUNES 3 250 EE oe ee ee ee

OX CANS see ee 1, 776. 58
WRASSEN GCI CANS) 5.0 oo 522 ee ee 122. 95
Caboose. Cars 43. es ee 578. 72
ivanovcaretor laborers. 0-25 ee ae 12, 643. 79
RGIMISCNALON CAS 225. ee ee ee 18, 118. 92
pine OIVer 6 oS eee ee 10, 080. 43
eWGleC ano Chanesi a Se ee a ae 24, 911. 08

365, 873. 56















REPORT OF THE PANAMA RAILROAD COMPANY. 21
Buildings and other structures: 2 | :
-Duplicate electric light plant (completed). es ae ee erate ea eee $1, 802. 60
Duplicate ice plant (completed) <2'2-- 22-20.) 2 ee 1, 992.16
_La Boca water works : (completed) . SES 8 se ee "a 88,
Oil house at Cristobal (completed) =. .-.62 4... 2228 1,,073:.01-
Ancon electric ight plant (uncompleted ) Peo c Se eee eee see i, 247.01 —
Improvement to La Boea pier (uncompleted ).....-.......-.------ 16, 003. 58
Coal chute Guncompleted) =) 2.22220 i ee ie 429.77
Improvement to pier No. 4 (completed) .....:-2..----:----.2--- 47, 995. 80
Annex trainmaster’s office (completed) ......-......--...-..---- 1, 103. 19
Third story Washington House (completed) ........---..-.-.--- 7, 320. 47
Permanent refrigerating plant (uncompleted) ............-..-.--- 15, 930. 54
Laundry. at Cristobal Gancompleted)- 22. --:. i222 25222222221 8.. 4, 188. 43
Bakery-at Cristobal: (uncompleted) ©: .- 23. 8223. 298. 64
Erection of quarters, colored laborers, Cristobal (uncompleted) Se 20, 700. 46
Temporary freight shed, La Boca (uncompleted) .....:-......-.- ii 419, 24
Mechaniec’s quarters, Cristobal uncompleted) 2. 22255) 5. on 14, 922. 02
Panama Railroad quarters, La Boca (uncompleted) ............-- 5, 637. 39
Family quarters, Cristobal (uncompleted) .....:.:...-.........- 4, 553. 41
Extension of Cristobal commissary (uncompleted ) Cee ae es 3, 988. 93
Transfer table, Cristobal yard Cor ered) ek Fe eae en 9, 47K. 33
Turn table, Cristobal yard. (uncompleted): 22522 Sere 6 esi... 2, 215. 10
Engine- house Cristobal yard-(uncompleted) 222°... 220 12, 005. 70
New pump station, Frijoles (uncompleted) .............-...-.-.- 3, 629. 64
Brown hoist coal plant. (uncompleted)... 9.2). <5: 2.2.2.2 73, 991. 70
Cinder pit, Cristobal yard (uncompleted) ..................../.. 1, 076. 32
New station, Las Cascadas (uncompleted )'................-....-- ii, 338. 88
New station, Bas Obispo (uncompleted).......5......2........-.- 1, 372. 80
New. station, Culebra (uncompleted) 2. 225 S 321.51
New station, Camacho (umcompleted) .....22....2..222.....-- 2. 2, 367. 73
Installation 5-ton ice plant in temporary cold storage plant (uncom- : |
pleteds\i: hoe Oe a BE ee Oe ee ea 3, 040. 38
Temporary refrigerating plant, Cristobal (completed) .. ihe aes 18, 997. 82
New water station, Cristobal (uncompleted) ..................-.- 290. 80
310, 637, 59
Floating equipment:
New lighters at Colon Garon pleted) Son ee oa ee $82, 748. 48
New. tug for Colon Harbor (completed). 2-2-2... 222222205. 5252: 57, 942.53
Two new lighters, Panama Bay (completed) ...................- 10, 973. 30
151, 664. 31
New sidings and yards: ee
New Y= at La Boca (completed).<) 02.2.2 bs ko a $151.18
Hxtension Ol sidimes (uncompleted): 3 = 22. 82s | 240.55
New yards Cristobal: Gincomipleted) . 25) = 119, 439. 87
New yard at La Boca ( ee) ee ee 14, 354. 14



133. 883. 38





New machinery and appliances:

Te









New air compressor (completed) 2. 2.0 $229. 44
Pneumatic tools and machinery (completed) .................... 83. 38
Wihitecom >: planer (Completed) 5.223 5 2.2 2 882. 22
wo upmcht boilers (completed) 29.25.5052.) 6 _ 8, 889. 23
One Fay automatic cut-off saw (completed) ....................- 514. 41
@hmtilevercrane (completed) 95 9 31, 156. 71
)-tom traveling. crane (completed) 222. 2-65.23 te 6. 10
4 cranes at ba Boca pier (completed)... 5 222.5... 5 es. 1, 901. 20
Bolt heading and nut tapping machine (completed) ............- 2. 551. 53
41, 214, 22

GramdetOtals 2 ee ee ee ee 1, 003, 273. 06



a Credit.



to

REPORT OF THE PANAMA RAILROAD COMPANY.

Exarerr G.—Hquipment and plant replacement accounts, June 30, 1906.



|

Locomotive and car equipment:









PH eDORGAMG WALCO CUTS co tte ere ates ei eis eye mayne oye tiavereatyoreinecnersisinye erst vere $1, 450. 00
MASTOCK CATO cr cnn eee teas Gre rota ain aia Uroesioia sats Peas toe ae eG 220. 00
4 aaa TO. 90)
Ledger :
ee Rate. Period.
Floating equipment: IZ, Blo
Balance Dee. 31, $935. 83
GeGrAlManChs: 3. 522. 5 eo. | plod 12. 97. Be0D:
; 6 months...| 4,624.62
——_————| 5,560.45
Susi Minancerss o2chs ore QP AlONS9. |) 66). | O WO OMUMS ee ates see 6, 642. 30
SaSteAGVANCE et sete ome SS ec. 221, 186. 30 Gos eOrmOnithsesalhen etna 6, 685. 58
Balance Dee. 31, |: 10,755.12
MU Se OUVA eco ccecis oe aici 70, 000. 01 1905.
10 | 6months...} 8,500.10 oA
——————__| 14, 255, 22 |
MupuOristObalser=. = See sae bis 942.53 (2 10) | sO mmmOmbNGe ye ee 2, 897.10
NGIGUNLOTSy eee fee cece oc ~162;999: 493) 10) sO mar onthnsees| sete 8, 149. 98
aa | 44, 140. 68
Ice and electric plants:
Ice plant.at Colon ...........-- 16, 734. 00 Gr Gpmomthsss| sess sse ss: 502. 02
Electric-light plant at Colon...) 14, 604. 44 Seale 2 moOnmtn gees cere a: 194. 72
. Eleetric-light plant at La Boca.| 18,180.86 See 2 mMOMURS eee 242, 42
Electric-light plant at Ancon..| 17,066.57 8) | Mayes esse 113.78
Electric-light plant at Ancon..| 19, 279.37 Se PIRIMC eee 128. 58 obs
i——-———_ 1, 181.47
| | 46, 992. 10





Exurpir H.—Statement of classified railroad earnings, tonnage, and passengers, Colon
to Panama, for twelve months ending June 80, 1906 and 1905.



















































































FREIGHT.
Pon nEse:
1906. | 1905 D. Incre ease. 6 renee
: oe
Through:. eo |
Mrom New YOrk -. 20.5.9. .ohes ee A D020) ee LOO LOD Se ae 2, 640
From New Orleans....-.....-------------++-----+---+:-- , 3,429 a Ova |... 1,145
From Europe Repeal yad Uns Petey eta n ter Sta iape ne tale taletotererareve 105, 710 i O25 194 18, DIG. eee sus
Motil BUR rae et nase Nanas aa ee 206, 664 | 196, 933 Qe folles| Mawes
Local: , : | a
Commercial at epee MMP etn ee intel ata alolotolatereierelctaleteialetslalelele aime 43, 159 | 32, O11 | li, 148 onto ee eee
Isthmian Canal Commission..........-.--+----++-+--+-- 137,129 | 39,342) 97, 787 |..........
Company freight..........-.+-+++++++++2+22e-2- +2222 22-- 22 O38) es 02,800) |e 9, 947
Motale 5: Seen OU eras pnece rie ke Sue te ore SON aes 203,226 | 104, 238°) We ete) Ta ccoacuaac
Total freight Ringe Ween eAste hoe ey ae ap Niateoad a evetlotatatstal siaichafelielaneroferarata aa 890 301, 171 | 108, ae sl ajeteieletawicie
Earnings, fs Rate per ton..
1906. 1905. iacrease, ees rease. 1906. E 1905.
Through: :
eHTrOMENG we VOLKis estas e252: $351, 452, 197 | Pot, BOOn22 |e seen: $33, 953.03 | $38.46.) $8.71
From New Orleans .........-.- -11, 950. 69 LOE 09S 84 alee Seer. a 7, 148.15 B49 Ae 7,
aWrom Bunope 922s... 387,018.90 | 365,812.95 | $21,205.95 |............ 3.66 | 3.97
ALO Get ie eae So ae a ete eerste ae 736, 401.78 | 756,292.01 |..---....--. 19, 890. 23 3.56 | 3, 84
Gorminercial Se Ee Ea een ets MA OMUEAS sols O80 ele SOR O8D. 0 (ele ee 3.98 4,12
isthmian Canal Commission...| 268, 838. 48 Dons LO es 20D ERG 24 ee 1, 92 1.49
Compamystreiont ae oe le ke ee occ cis ieee sae 2 Bona aia cer aiaeara ees see erate aan :
Motel are er! 435, 508,/61,) 190,784.30 | 244) 724,31 |.) | 2, 14 | 1.88
Tipielireights = 1,171,910.39 947,076.81 | 224,884.08 |............ 8





REPORT OF THE PANAMA RAILROAD COMPANY. 938

Exuipir H.—Statement of classified railroad earnings, tonnage, and passengers, Colon to —
Panama, for twelve months ending June 80, 1906 and 1905—Continued.







































































MAILS.
Weight. KFarnings.
: oe In- ot De- : De-
1906. 1905. crease. |crease.| 1906. Pee Tnerease: | crease.
Pounds. Pounds. Pounds. | Pounds.
From New York...| 1,047,000 85956205) 187 300r ls. eae $73,599. 48 1856, 142.45 |$17, 457.08 |....-....
From Europe ...... 11280134) bo | 42,088 | 9,138.48 | 12,644.15 |........2.- $3,505. 67
WOCH secs ee wees 150, 873 Do De liledya| eee ketone 88, 839 4, 037. 06 4. OME OSE Brees een 664. 02
| Motaiie ens 1, 309, 886 | 1,258,488 | 56,448 |-.....-- 86, “86, 775. 02 02. 73, 48 487. 68 68 | 13, O87. S4|. eee
TREASURE.
7 Value. Earnings.
ie ee ee
1906. be Oe crease. | crease. to 00. eT crease. | crease.
From New York ..... $1, 828, 779 |$1, 925,250 |........- $96, 471 | $3, 730.31 | $3,507.05 | $223. 26 | Cee see
roe IDWUKO XS Sosasacc 21935 905) 12 2s 88i300 |se cece. 594,412 | 8,103.78 | 9,014. 47. oe $910. 69
Local: | .
Commercial...... 29, 500 AB9 B42 nce ae 409, 842 62. 00 (22:04 See 660. 54
Isthmian Canal... 189, 500 26, 800 \$162,700 |......-- 194. 00 6595) | 1S7A0bV Ge
Movale oes. 4,941, 734 | 5, 179,759 |......-.. 088, 025 | 12,090:09 | 13,251:01 |... | 1, 160. 92
BAGGAGE.
Weight. | Earnings.
1906 Hoop ee Der cae 1905. | Increase.| , D&
i * | @rease. | crease. : : ‘| crease.
Pounds. | Pownds.| Pounds. | Pounds. :
From New York....... 140552851 124) 291) MOS 2387 ie see sc PL SOQ V9) B28. 44a eee $092, 25
- Krom Hurope’...5.:.: 2: 93,076.| 43,451 | - 49,625 |........ 1, 887.45 | 1,220.07 | $667.38 |......-.
Toca 994,247 | 620,278 | 373,969 |......-- 14, 387. 00 | 11,244.12 | 8,142.88 |........
PRovale ss. soe 1, 227, 851 | 788,020 | 439, 831 ea pe | 17, 795. 64 14, 577/68: |)3;218.01 |.
PASSENGERS.
Number. _ Earnings.
In | De- : ee IL De-
1906. 1905. Cience erence. 1906. 1905. eee crease.
From New York: :
Hirst Classece2. sc. 3,083 | 2,006 TOU aie Mae $9524, LOS SUS 92 ee eee ee $2, 004, 82
Second class ...... 7 410 GLOn ey PE D008. qe VSS607.1 20 780nbo oars oe 991.58
From Europe: -
First class......... 713 607 | 106). 461722 15.017. 6h ee 400. 39
' Second class... 415 402 IS ok 1,858.49 | 1,849.69 3°80 ee
sOCAaL; sis arg
First class........- 60,976 | 22,040 88,936 |.......- 36, 646.24 | 17,691.16 | 18,955.08 |........-
Second elass ...... PLOD LOD Sle SO SS Tae sees oe 58, 017. 64 | 38, 850. 64 | 19,167.00 |.........
‘Motale 22a: <2 2) 230,702 | 107,056 | 1985646 |. 107, 247.66 | 72,518.57 | 34,729.09 |.......-.









24 REPORT OF THE PANAMA RAILROAD COMPANY.

Statement of classified: railroad earnings, ease, and passengers, Banani to Colon, fox
twelve months ending June 80, 1906 and 1905.















































































FREIGHT.
Tonnage.
1906. 1905. Inerease. | Decrease.
Through:
MOENG WeVOVk ea. ROPES Otc aS ea de CS cane 713;275 (SRoOBe eee ees 5, 058
MOUNGweOvle ans oe oe se igs Soe event ence Behe Stoel Gis | eeeeey: ene
MO ULO DE ses EN es ae Ses Rian were ieee p Nag aaa NECA 58,.442 74; 723 Rp atayrre ates 16, 281
Mote 131, 730. 13056 | 01.396
Loeal: oe oe
Commercial— |
Da Boca—Panamarsias oso a es ose ae) 9, 874 8, 004 WS UOn esac ces
Panama—Colonsc s: 2200 fos i ee 12, 465 4,724 CAS Sac ees
Isthmian: Canal: Commission: = 55.525 .5.. 22 8.5523 ae 81, 258 6, 516 TART Seiwa Sons
Companytreigh ties oe ee eee Ps ee 20, 499 8, 791 LAOS his foc one
Mota ee oN Sopaee (oer ae |e Siow 1001 | 28, 035} 9 06/056 |
Motaliteighte se 255, 821 | 181, 091 Ss We
Earnings: | Rate per ton. |
1906. 1906. Increase. | Decrease. | 1906. | 1905.
Through:
To New York ....... OED cete ms $214,847, 30 | $228, 813.87 |........2.-. $8, 966. 57 $2.93 $2. 86
To New Orleans.....2.......-.: AOR D eee ee ee PAO 2a eee ee es Oehlesietae oh
MOFHMTOPC see ee hae eee | 214, 618. 39 21 9E69e 608 | a. ee ee 65, 066. 21 3. 67 3. 74
Motalens a. ee | 499, 510,41 | 503, 493¢47 |. | 73,983.06 | 3.26 3.29
Local: | Coe eee eee
Commercia]l— | eee ai
La Boca—Panama ....-.... 5, 001. 97 el O49 EO Qe eit cer sae 7, 347, 35 aol 1.54
Panama—Colon............ | 35,071.05 16, 017. 48 OS ODSAO2QG ee eee 2. 81 3.39 :
Isthmian Canal Commission. . -| 76, 895. 86 10,224.99 | 66,670.87 —— oe .95 1.57
Company freight..... Se aces Hectares OS a stele AA EON pees [OLN eee emcee tees (ee soc
MO aes ee | 116, 968086 | 38,591.74) eared oe 04) das
Motaletreie ht. 2... = oe | 546,479.29 | 542,085.21 | 4,394.08 | FE dence kos ASU | Dla | o, 99.
MAILS.
Weights. eS = euues:
| Jin pe [ an be
1906. | 1905. crease. eee 1906. 1905. | erease. | crease.
Pounds. Pounds. | Pounds. | Pounds. :
MowNew York . 95). 100, 452 89,670 | 10, 782.2... 5 #4, 817: 59 | $4,547.53 $270.06 |.......-
MOWMUTOpPe.. 6 2s 6, 826 103785 )2.2 8, 552 642. 28 OS8n0n ee $3.40. 77
MOCa ees ee 8, 264 2,348 HO; OGM ee 1,017.74 DAZCSS. A OnOOn |e es
NG taN a ee 115,542 | 102,396 | 18 146 | ae 6,477.61 | 5, 772.96 |:704,.65:|..2.. 3
TREASURE.
Value. | Earnings.
-In- De- In- De-
1906. 1905. crease. | crease. 1906. 1905. crease. | crease.
To New York ........ $1, 278, 208) $1, 870, 159)........ $096, 951! $4,904.50} $6,197. 84)......... $1, 293. 34
He puTOpe Sei oes ieee 25897, 224| 25913, 543\5. 225, 16, 319 8, 882.15 8, 611. 26; $270.89 |...... Rae
ocal:
Commercial. ..... 5, 100 0}, DYADS Seno Ge 1, 426 Seo el Oe eee 2.76
Isthmian Canal eve 20, 000 HOOUOIS IE see 536, 918) 5. 00 134. 19}. wwe once 129.19





Motel ese ee ee 4,195, 582) 5,347, 146)........ 1,151,614) 138,800.40; 14,954.80)......... 1, 154. 40





REPORT OF THE PANAMA RAILROAD COMPANY. — OS

Statement of classifieds reseed earnings, tonnage, and passengers, Panama to Colon, for
twelve months ending June 30, 1906 and 1905—Continued.























BAGGAGE.
Weight. Earnings. :
In- De- De-
1906. WOOO; | Greaue: loreace | Lee 1905.. | Increase.| arose.
Pounds. | Pounds. | Pounds. |\Pounds,
To.New York ........-- BAO eMedia ae oats 13, 370 ae 21 $645.35 |....- Semes $192. 14
Pe ROPMUTODE eee sc se. coc il, 500s Sees DOOR amen ae SR OOE Se aa ho: GOs ce aes
TOC a ee ee 908, 205 | 529, 007 370% IGS Wesnes eee 876, 94 G5 8263222) 2; 0505 722 \o22 an
Motels se 933, 806 566, 478 AUB: | SOU ,O20 eae cee 12,333. 75 “0; 471.67. 57 le SO2N1 8a ae seers
PASSENGERS.
Number. Karnings.
a ~ 1905: In- | De 1906: i905 | merense| | Des
s * | crease. | crease. : oo eee crease.
To New York: :
Hirst-classie:. 22.02. 838 | O98 Hees NGOs 4889508) BOBO I8e iE oases ee $2,643, 25-
Second-class ....... OES Me GOE tcc ose 247° | 4,092.05 |. 5,587.87 |2.:-- 22 occ | 1, 445, 82
To Europe: ele
First-class.......... 473 DD ASG |e Dooke2e | 19840207 Sl 4bseO2ee oe ee
See us ee 82 OF ecia. oe 47 360. 25 600. OO Sees 2393-75)
ocal:
-First-class.........- 59697 Qa dG8r ls 30.0840 |e ccc 30, 110.70 | 16, 870. 92 SCOR OE SH ete se
—Second-class ....-...| 155,525 - 85,199) 70,826 |.-....-.| 45,060.01. 30, S18. 18: | T41Sl 88a) 22 7 ge
Motel oes 217,528 | 110, 874 | 106,654 |.......- 92, 899: 26 | 68,358. 45 “99, H4b8E |e eee ee.

EXHIBIT I.—Statement of railroad freight statistics for twelve months ending June 30, 1906.

Grose earnings (2.0...) ee a ie Se $1, 718, 389. 68.
Freight-train mileage (including all mixed-train mileage) .......-. ae 172, 243.
Rreishtitraims, per day per mile of road_. 232. .:..5.5 92... 9. 42
Doadedecar mileage. 27) ee 2, 192, (O70
Hmipty-car mileage Gneludine:caboose)=-..- 22.5 22 877, 216
Percentage of loaded-car mileage to total freight-car mileage (includ-

IMO CO OOSE) 2 eee ee 71, 48
Loaded ineioht cars im each treioht trail .@=. 2.2.0...) | 12. 73
Em ty freight cars In each freight train (including caboose) Ce : 5. 09
Loaded and empty freight cars in each freight train (including ca-

WWOOSC)\ ats sae ee ee ee ee 17. 82°
Ronsscommencial treet 8 se 622, 275
Tons commercial freight 1 mile.............- ORs ee ng aa 25, 348, 111
Mons companyrireight 206 02 22 eee ce 43, 435
Mons company ireishtl mile °.1.... = 1, 258, 117
ons allivetoht. 9555s, oe ea 666, 710
Tons all trerveit Tmiile 3 26, 596, 228
Tons in each loaded car (including company freight) oe ee 12. 13.
Tons in each car loaded and empty (including company freight)... .. 8. 66.
Mons in cach trains 227. Se 154, 41
Hanmings sper ireieht car permile........... 0 cents. - 50. 97
Average distance ‘freight Carnie (miles) i024 ee 40, 73
Rarningssperireromt=traim mile. 0:9). $9. 98
ArHINgS per toners ke ey $2. 76
Harnings: perton permile <8 e cents. - 6. 78
Tons carried 1 mile per mile of fonds 2 ee 505, 849
Darnimgs pen mile of road: 3. bree Aes Maen $34, 292. 36.
Estimated loaded Carsm eachitrain 2662 ee 15. 59:
Revenue freioht-engime mileage «425... 191, 763
Kstimated loaded cars hauled per revenue freight engine... 2-242... 14
Tons hauled per revenue freight engine................-.22.22:.- a 138. 69:

Norr.—Above form of statistics inaugurated July i 1905,



26. REPORT. OF THE PANAMA RATLROAD COMPANY.

Exursir J.—Statement of railroad passen ger statistics for twelve months ending June 80, 1906.

Gross earnings (including mail, extra baggage, and treasure).......-.- bo49, 419. 48
’ Passenger train mileage (including all mixed train mileage) -.....--.- 164, 811
Passenger trains per day per mile of road 220-2225 5252- 5525-6 no. 0%
a Coarchimulledoeu ss ee ee ee ee oe 594, 679
Baggage, express, and mail mileage.......---- Oe eel — 164, 208
Total passenger-car mileage........--..---- spe Oe ee 758, 887
BABSON COCKS CARMeds {8 te pest ee es es See G 448, 230
iRassenwers carmedak miler 258s o5 his. ees a 6, 302, 957
Average distance each passenger carried....-..-..-----.+-2222---.--- 14. 06
qeasseneers in each, passenver tral. 6.3.5 eee 38. 24
Passengers in each passenger car (excluding baggage, mail, and express) - 10. 60
arminesapen passenger traim mile 22052. 8 ete 2. 12
Harnings per passenger car mile (including mail and See : _cents.. eee ES AGL OAL.
Cars in each passenger train (including baggage, mail, and express)... 4. 60
WanMiNGs Per PACSCNOeCh seek lk eee ee cents. - 44. 69
Earnings per passenger per mile.-........---- Rene doe. 3. 18
iRassensers I mile permile of road... 20 5522 e eee ee 125,782
Harmines per mile of Toad... ee Ee eae 6, 973. 04

Norr.—Above form of statistics inaugurated J uly 1, 1905.

Exursit. K.—Statement of railroad general statistics for twelve months ending June 30, 1906.

Average mileagre Operated: Sy 28 a eee 50. 11
otal ireieht and passenver earmings... 2.5 25. 62 3 $2, 067, 809. 11
Motal treieht and passenger expenses: 22.2. = 2429-222 -2-- = dL, 479, 651. 69
Net irei¢ht. and passenger eamings 52.0.2 02 22s ees $588, 157. 42
Percentage ol freight and passenger expenses to freight and. Daseee |
(CRN NOUU AYO a ee ee ene Oy ee a Ne GO ea ee OO ©

Motal-revenue train mileave. . 5... 425-0) 5 o21, 406

Gross carmines per revenue trai mille. 2229-2) 2 eee b6. 43
‘Operating expenses per revenue train mile........-------..--------- _. $4. 60
INetrearmings per revenue tram mile... 222.22. ee 7 D1. 83
Motal Sross Carmings 292 8 ee: So eee ee 2, 070, 828. 03
shotaly cross expenses... {2 eee ee ee ee ee b1, 731, 888. 55
Net earnings, all sources -.-...- Be Oe I ee 838, 939. 48
Percentage of gross expenses to gross earnings.....-.--------------- * 67.37
Warnes per mule Ol Toad. 2 4 2 ae ee Be eee $01, 308. 69
Expenses per mile of road--.--..-- ee ee ea OGL Fl
Net earnings per mile of road.-.---- ee ee eee 16, 741. 98

Norr.—Above form of statistics inaugurated July 1, 1900.

Exursit L.-—Statement of railroad freight tonnage handled year ending June 30, 1906.
(1) FROM ALL POINTS TO ALL POINTS. :























| 1906. | 1905. increase. Decrease.
Colon to Panama. Per cent. | Per cent.
HroOmeNe wy OLketOn Sam HranCisCOne sos sae ta tee eae 25,914 SO;2G0 8 eee eee 26, 51
From New York and New Orleans to Panama, South Pacific,
CentraleAmerica. and Mexi Coss see es eee ee 75, 040 69, 479 Sh00F ee ses
From Europe to Panama, South Pacific, Central America,
MCxICOs ANG: SAM HTANCISCO: scat ee ees SS es ee 105, 710 92, 194 1A S663 eee = arta
From Colon to Panama (local): ci
Gomimuerciaileinei gies sees ee ee ee eS es | 48, 159 32, O11 OF 08s ee sees aye
JsthumigmeCamals COMMISSIONE ose ee ee te cae | 137,129 39, 342 248 OO] se ces ess
Company trelgbas se Slee oe eS Sc See | 22,938 By pele lagoaarGade ~ 30. 25
MO es ee eee ree | 409,890 | 301,171 | S640 (a eee
Hrom cam-hran cisco tOiNew. VOL. 2... .2.06 se 3 55s | 24,937 SI 240s eee se 20. 20
From South Pacific, Central America, Mexico, and Panama : .
OPNIO WE OD KGa ieee Ae eats a cols cesta ie, eon eee | 48,351 47, 084 | QE OQE eS aees
From South Pacific, Central America, Mexico, San Fran-
cisco, and Panama to INMINODC Geshe cee Se ee Ae 58, 442 MESUZ3E | Roe aise 21.79
From Panama to Colon (local): .
Commencialarel ght oc. 8 eS ete Lone se aetstee etree aicie's 22, 339 12, 728 (DGDIS eee a Soar
ls7namian Cana leCOmMiASSsiON se osteo c oc chose tee eee st Oly 200 GO. ORs AE TAGHOS ie ae sess
COMPANY: HEIN bes. 2 oe bos Se a feacl 205499 8, 791 WSOSES tee ees aes :
————— |} ee een
GMO UNL eee ee eS Ue See eas ia ae ote crate oar e ase 255, 821 | 181,091 AE eee are ie
Total westhound and ea bound! Beene ee ee ~ 665,711 | 482, 262 Bieh UME iocanasceS-



en ae ee —
.



REPORT OF THE PANAMA RAILROAD COMPANY. 24

Hxurpit L.—Statement of railroad freight tonnage handled year ending June 30,
1906—Continued.

(2) COUNTRIES OF ORIGIN AND DESTINATION.













Colon to Panama. . :
HorPaname 00000 oe ee 80 74d MO NO60, oF SA NO0) ey eee
MOme@ ential AMC TCA ee ye Ae eee eee ea ‘....| 61, 454 GI DOSs ie eee 0.19
For South Pacifie ......- HG aa cae VR mt NN SVC cal wiz taiat cle aie gc bien 75, 796 68, 890 TOSQ 2 ee seas
MOM Sane MAN CISCO mec. ce eee meee a cians SST ees 27, 164 Sie OD ee 26.79
HorsMeXiCOs sos eee en! eee ee ee 5, 732 3, 951 4508), | eee eee
GIRO et aoe are ae 409, 890 | 301,171 SO810; ae
Panama to Colon
IMROMeEP ANAM eo eee ee eNO ls NG SEU Ses 137, 316 A326. 145 202,100) |i ee
Hrom\)CemtralyAmerica. 2... -2 9 ee etna rie ae oes 41, 573 DL 048 oe 18. 56
HOM SOUTHER a ClING esas ee te Sha Nese upset 1c) 7 495326 BU 20 ane seme ete 47 60
HrOM SAneWranCisCOnm rer ee eee ie a ia ec 20; GlOs| O2IS2e ce 20. 41
rom: Mie X1COis 322 eee seater eee Ree cee. Ji BE ee see ee 1, 99u S06 Ay 02a eee
Motels. ee a ee ee 955,821 | 181,091 | 41,27 |... cee
Total westbound and eastbound............:....-2.--+- 665,711 | 482,262! 38.04 |......... a

Exarerr M.—Statement of steamship statistics for twelve months ending June 30, 1906 .































and 1905.
FREIGHT TONNAGE. ,
1906, 1905. Increase. Decrease.
. Tonnage]! ay,-; Tonnage . Tonnage - |Tonnage
ships. carried. Ships. carried. Ships. | carried. Ships carried.
Panama railroad ships: |
ASE LVIC CS: hats See cae 38 36, 673 30) 48,885 Soles ce Ne cease 11
Salledes Go sesos fee 37 60, 799 Sale OO, ANON ee Coe eee eee vee Ale eee 8, 317
Chartered passenger ships:
APMIVeds se ae eee 27 31, 728 QUE OO DON Sire See ee apes cea 1, 402
Saledie scene Gaon ec se eee 28 69, 097 26 | 52,864 Dials Gs DOB |e see oa ie eres
Chartered Provelil ships or
sailed gr yom ace Ae nan enfant eae ee eae Dice LD Wd AO eee seats os Me cease tenes 3 12,779
rd ere | or ere rena err ene eee eee eee |e sane
Mota 130 | 198, 292 A 2S QUO STOO le cr Ole ee rae ccs yes 18, 477
ee me oe i 4 ‘ Z : TN a SAG ceo Meanie eee
1906. ae 1905. Increase. Decrease.
ru LOSE eS Sere or aa | ‘canes eaeeaaaa i aaa eae Se ee
Total freight earnings ....-. $848, 564. 29 | POD VSO ROA Sees Si iia | : $72, 716, 25
Average rate perton........ 4,28 | 4,25 POS OB: ee is eee i Can erate
io

PASSENGERS CARRIED.



































1906. ' 1905. Increase. |. Decrease.
I eaeccn epascens Passen- . Passen- |
: Ships. | gers, Ships. cers. Ships. gers. | Ships. gers.
al on nae BENE: Le eS aes
Panama Railroad ships: : . |
SAT TLV. COS ia ae hee Gee es 37> | 2,477 od 1, 839 3 | GBS eee Sas SRO
Sailedie see 37 3, 144 3D 2,183 |. 2 | QOD eer eee erate
Chartered passenger ships: pan | | yea -
Rrivcd ee OT | 2,578 27 160) oe | BY a ele
Giilede 8 28| 8,056 | 1,436 en ee ee
Motale 6 | 00 Ie enor tor 700 84 2a tele ee eee |
. ae Ce Le ge
1906. 1905, | Increase. Decrease.
Total passenger earnings . $319, 014. 62 $265, 832. 32 DOO; LOZ OO see See ire Weisser
Average rate per passenger. | 28. 36 STADE eae eee ose $9. 09







98 REPORT OF THE PANAMA RAILROAD COMPANY.

Exursrr N.—Statement of locomotive and car equipment.















Pore: Passenger cars. | Freight cars.
: 2rd
oO a Qt
f |e oe
Aas ~ ao 0 a CS.
| 8 | 42 Se |e | s
So |e |e ce eee = oer
robe Ol ara eae BO ee ae
I = Or (02 NER & 80 i 3 3
o = a, fat ey CU Qos S © ° =
a MD wD & |O nD mp pO Oo fy
Stock on ume 30; 1906. 22.2 525 cose 48 11 5 Saieoees 11 Ce oon ele 137
Stock on Dee. 81,1905... .2.2.....1.02) 27 dl | 5) 8) ae 10) 7) sel i| ie
Increase during 6 months..... stele QDs fdek Pee Ags Cater |e ee eee fe eee Ole se pale
Decrease during 6 months /...... | Se TLS SSE ee Pees [Pee es caeeces: 11)
Miscellaneous.
| Fa uigaS [waa es aes
1 t 2 a Se
‘ ie ® 5 ° Os
ee ae ee
& | bb | [oe eo | a | ae | Se
S = © : Reo ae |e es 3 ate
= rm oS o BH lS ae g [ed oO} oe
oS 9 } rs ee ls Se Bae m &
Sle ee) fie is ee is S io Lao
= > oO DQ S m | MD m | ha
Stock on June 30, 1906.......---. AAG) tl | Oe SG set ta 10 7
Stock on Dec. 31, 1905.........-... 20 Dee el 2 8 9 37 1 S| yrnces Bcieore
‘Increase during 6 months.|......|...-.. eee 14 ee 10 7
Decrease during 6 months. Ae AAS SETS OSHS Sasa ate ces | cee tap ne eee ere li Fete Ua osc | ones ea



Exuisit O.—Statement of floating equipment.



Passenger accommoda-









Gross tion.
Name. ton- |Length.| Breadth.) Depth.| Hull. A
nage. First- |Second-
class. | class. steerage.
1 Dts Ges | J8lhs Oy 18 Cle
Steamship Allianca........... 2,985 | 303 0 42 0] 28 9} Iron Or eae (a)
Steamship Advance.......--.- 2,605 | 295 0 38 4}| 28 41....do 62 36 a
Steamship Finance ..........- 2,608 | 300 0 Boo 4 | 23s OF ae O Ore 66 36 (a)
SteamshipPanama(chartered)| 5,667 | 360 0 50 0} 382 21 Steel 60 45 (@)
Steamship Colon (chartered) -.| 5,667 | 860 0 50} 0: 12 327 23 ee do- 78 58 (@)
Tug Bolivar, at Panama...... 234 | 127 0 23° 0 DOr SIRO Sas | ae Neen NL Sas
Tug Cristobal, at Colon....... 161 | 102 0 207 2 sal De 02 | 8O OC nel ies ees cee eeu ae eae
: sheathed
4 freight lighters, at Panama . 200 | 108 6 24 0 Wee Se | SU @ Meera ese ICE Snes erent
1 freight lighter, at Panama 0. 275 | 108 6 24 0 Eee | er OL Oeee | ae arcs lise cee iay ere an saan star
1 freight lighter, at Panama .. 300 | 109 4 2450) l= 0 AGL Opec eae de ee a
One ane ie as ee ren 300 | 109 8 24 0 Ue OES Oa els co eee eral ireeake eh ce aes sera
2 freight lighters, at Panama . 300 | 109 8 24 0 Cheap Re a0 NOY aap ly a epern ete Ds si
DOR eee ro ee 300 | 107 0 D3 TEP Be CoP Ores | BSS See PSEC | Et a ae
3 coal lighters, at Panama.:... 222}. 110 0 24 0 S220) Eee Ome OSes cae ea [Ree ees
1 floating pile driver, at Colon|....-.... 60 0 30 0 BO WOO a xt ck Poles oo arn es
1 freight lighter, at Colonc.... 300 | 100 0 24 0 See Oo rome es Boss so ol aya aaa | Beeman a



a Standees as required.
6b Decrease—One lighter since last report.
c Increase—One lighter since last report.



REPORT OF THE PANAMA RAILROAD COMPANY. 29

SUPPLEMENTAL REPORT SHOWING THE RESULTS OF THE COMPANY’S
OPERATIONS FROM JULY 1, 1906, TO OCTOBER 31, 1906.

[Presented in 1 compliance om resolution of the el of directors adopted at its meeting of April
2, 1906 s

Exursir P.— Income account and profit and loss account for four months ending October
31, 1906.

INCOME ACCOUNT.





















Railroad:
Gross CA LMI N eS TOMO PeTAUOM ss cken cae cece. fee ee eee eras $963, 745. 94
Operating. expenses: -.2.5...2...2- Ge eee 612, 616. 59
Netecarnings: from operatlomentasn toons eee oe eee ae aes ase eee ree $351, 129. 35
Steamship line: :
Gross earnings from operation ....... Yeas spo erciete eae Sts SOU Ne teenie Moe eee Rare 512, 366. 71
Operating: CXPCnSeS ame meets ee ela eee Ges Sites Sans oie oes cient cea 451, 914. 09
Net earnings from operation ... a ee eee eee Puree 60, 452. 62
TLotalearninessroOmOpehatlOMet = ss cose yes ON ee pec ee Soe alate sae eens 411, 581. 97
Add income from—
Interest ON: SECURITIES O WMC oo niece hse eo oc oo ER eee 2, 686. 25
Imterest:-and exchanges a hee Sane roe eo Sa os Ns ee ae 74. 53
| 2,760.78
ess:interest: on! loamsr ies a Ree ee cise (ere oh Nortel 7, 647,18
ee a4, 886. 35
Total income ........ de poor uene Be ee er a | Suen ecient 406, 695. 62 ~
Less—
Interest on funded debt, first-mortgage 44 per cent bonds—
Interest on $2,272,000 July 1, 1906, to Sept: 30, 1906 -.-:-.-.--.: 22222. ....- 25, 060. 00
Interest on $2,163,000 Oct. 1, 1906, to Oct. 31, 1906 ...... fs vtiese eee raeis 8, 111. 25
38, 671. 25
Less interest Apr. 1, 1906, to Sept. 30, 1906, on 119 bonds drawn for re-
demption and paid by ‘trustees in October, SLOQG ore ye ee rene - 2,452. 50
esis j 31,218.75
Hirst-morteage: sinking hin Ges oe ces oc on sates eee ee 50, 000. 00
Concessionary subsidy to United States Government under treaty....-. 8, 3838. 33
Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds, 533 bonds July 1 to Oct. 31,
LOO Gc Se Se eee iin rs ch Nee eae ce aol Mae $10, 660. 00
Redemption Ob-subsidy ponds... 262 5.. .4.2 2.622. 64, 340. 00
—————| 75,000.00
————-———| 164,552.08
INE Income tor tourimonthss sa. 52-2. 8. AUER ear eos cer le nee Same eae | 242, 143, 54
PROFIT AND LOSS ACCOUNT.

‘by-balanee to credit of profit and Joss june 30; 1906222... 2.225225 ss eee 5, 088, 589. 81
Surplus from income account for four months ending Oct. 3.1906. 5 Sa es 242,148, 54
First-mortgage 44 per cent twenty- vear sinking-fund gold ponds, re-

GON eae ae SOE Voge Ste I RITCEET Hares ois Spa Oh gar anaemia ton ons ean 140, 000. 00
Value of material recovered from lighters Nos. 6 and 7, condemned and

WirittensOt December WO0r te sete Sos es Ses Ss eels eee 100, 00

, 5, 470, 833. 35

Less sundry accounts written off, net................... ua Oats ons reyes iere | Skee eae 243, 53

Byg balance to credit On proniand loss Ochs sit M906. oo. ge se ee eee 5, 470, 589. 82

a Debit.



Exursir Q.—Balance sheet, October 31, 1906.



Cost of road, real aplnie, and equipment....-
Improvement and construction accounts. ...
Floating equipment:

Steamers Allianea, Finance, and Advance.......---
Muosvan Geliehters = sss ses oe ss eee 5 oe

otal: cost OF property: -.c2. 225-5.
Bonds in treasury:

100 6 per cent Panama Railroad Company sinking

LUMGYSUDSIC ye DONGSee.2 22-522 eee

628 41 per cent twenty-year gold sinking fund bonds.|_

On deposit with finaucial agents for redemption of bonds:

41 per cent twenty-year gold bonds......
6 per cent sinking fund subsidy bonds. os

Advance of subsidy to Republic of Colombia
Current assets:
Cash in banks and with agents
Coal and supplies on hand...........----
Due from connecting Gompanies......---

ener en noes

Due from United States Government—
Isthmian Canal Commission.-....-..
Post-Office Department ..........-..
Navy DECPATEMenb eee se ee

Due from companies and individuals. ae
Miscellaneous accounts..-... 2... .-2:-

Unearned insurance and charter of steamers.......-

General average disbursements.......-.-

worse eee ete ee

12, 940. 36

mewn ew ee eee eel wwe ee eet

wee were wre meee leew ee ee eee oe os

$096,749. 66
290, 943. 80

em ee we em ee welt we t weett eeeae

100, 000. 00 |
628, 987.50 | |

47, 386.17
| 2,000. 00

ee |



584, 721.37.
355, 077. 21 |
192, 351.80 |



211, 576. 52

28, 361. 94

$12, 541, 149. 66



895, 063. 78
|
887, 693. 46

14, 323, 906. 90



|

128, 987. 50 |

|
|

49, 386.17
533, 000. 00



1, 683, 085. 80
17, 318, 366. 37



i

Capital stockac sos ie ee Sais en pe pe Sa pee ee eas

43 per cent twenty-year sinking fund gold bonds (author-
ized issue, $4,000,000):

Issued to date (4, 000 bonds, Jess 1,121 bonds pre-

VIOUSTYATEG EC MCG!) esas ee ee a ee

Less drawn for redemption in 1906..:...-..--.-:-...-

Total capital stock and mortgage liabilities .....--

6 per cent gold sinking fund subsidy bonds@ ........-...
Bonds drawn for redemption not presented for payment:

41 per cent twenty-year gold bonds -.............-.

G.pericent SUbSIdVeDONGS 2525 eae ee

Funds for ne of bonds:

eer e ee ew eee ewe ee ee ee ee

Equipment and plant replacement BUT Serna ses eve see

Current liabilities:
Due to United States Government—
Concessionary subsidy accrued....---
Bills payable—For cash appropriated
through Isthmian Canal Commis-
Sion for new equipment and im- —
provements

wee ee em ee ee we ee ewe eee



IsthimuUsidratis Neb presented 2252222. .252 5 ee
Coupons molt presented ee
Accrued interest on bonds:
41 per cent twenty-year gold bonds
{2,163 bonds)
6 per cent subsidy bonds

$8, 111. 25

errr eer eee eee eee eee ewe

eee ee ene ee wee

Audited vouchers;and pay rolls. 22-6: -2.2-- 2. <2 22-2

Due to conmecting lines: 22. --2.22...-2 Hee ene Sa eee
Miscellaneous accounts
Unpaid wages

i ee rn ey

Balanee:to credit of profit and loss. : --22.2.:2-.--2----.--

a538 6 per cent gold sinking fund subsidy bonds of $1,000 each, amounting to $533,000, issued November 1, 1880, fall due November 1, 1910.

To meet this bonded indebtedness, $225,000 annually of the Colombian Government subsidy was pledged till March 27, 1908, the same to be applied by the company:
First, to the payment of the interest, and second as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an
amount equal to the then surplus of the subsidy sinking fund, the drawn bonds to be paid on November 1, after each ‘drawing, and there ey: redeeming the whole issue

in. 1908.

~



$17, 708. 33

15, 990. 00



$7, 000, 000. 00

$2, 879, 000. 00

140, 000.00 | -
See 7991000500
ee 9, 739, 000. 00
Eee | 83, 000. 00
47, 212. 50
2, 000. 00
one | 49,212. 50 -
7, 613. 67 |
240, 275. 00
——| 277,948.67
eee | 82,294. 92
|
597, 708. 33
24.138. 51
4.275. 00
94,101.25.
497, 502. 68
54, 563. 52
29, 529. 94

4,501.23 | :
| 1,166, 320. 46

| 17, 818, 366. 37
|



5, 470, 589. 82°

‘ANVdWOO GVOUIIVE VINVNVd qo HO LYOdus



REPORT OF THE PANAMA RAILROAD COMPANY. 31)

EXxHisir Vee Summary of earnings and ex penses for four months mding October 31, 1906













































and 1908.
1906.. 1905. Increase. | Decrease,
Railroad earnings:
Colon to Panama. .:252-225.. Bee ain ences | $567, 830.389:| $391,198.45 | $176,136.94 |...... 2...
Panamacto Colones: We eterne vfs cess | 224, 938. 69 175, 512. 39 49. 4061 80st. eee
MisGel lam OOM ce ste Sees eee eae Sees. 171, 476. 86 158, 504. 70 LER OWD Gi vara cee
Motalravroadsearwines. 7-02)... sce 963, 745. 94. | 720, 210. 54 | 243, 535. 40 Leen eee
Motal rawroadsexpensesise.. seems. ss ce | 612,616.59 574, 819. 73 | 37, 796. 86 [occ eeee esses
Net earnings............. Se | 351,129.35 | 145,390.81 | 205, 738.54 |............
Per cent of expenses to earnings... ee, | 63.57 | TOE eee ae ate iG oe
Steamship lines: ~ | | 3 Sn a ee
Motalearnings: -2........- SMe ehenemeen eye eines | 012,366.71 | 400, 446.73 56; GLO ROS Si ct ea
Mota CxXPenSess = socsec ee ee eeu Sek cs os Pe ao OLA OO PaO OSbe QO eee ease | $18, 967. 20
Netearmingd 05 (ee ee | 60, 452. 62 | _ ab, 15, 434. 56 66| 87 18 |e ee
Per cent of expenses to earnings.........-- 7 S00) es O80 eo | 15.19
Grand total earnings ......... ee. 1.476, 112) 6b | 1175, 657.07.| 300,456.48 |
Grand total expenses -.............--...-.-- 1, 064, 580.68 | 1,045, 701. 02 1S 8295 OG! seep en eee
Total net earnings .........----- as aiesciey 97 | 129 129, 956. 25 25 | 281, 625. 72 72. ee

Per cent of expenses to CANINE Says sereccrere sc | 72, 12 : ~ 88, 95 - Le a see 16. 83
a Deficit.

Exuisir S. Suen of daca railroad earnings, tonnage, and passengers, Colon to
Panama, for four months ending October 31, 1906 and 1908.

J





















































FREIGHT.
Tonnage. Earnings. _ {Rate per ton.
In-
ce 1905. ERE. 1906. 1905. Increase. | 1906. | 1905.
Through: ;
From New York ..... 34,544 | 30,599 3,945 |$122, 084.92 |$112, 015. 40 |$10, 069.52 | $8.58 | $8. 66
From New Orleans... 1, 545 801 744 5,160.45 |; 2,958.55 | 2,201.90 | 3.84) 3.69
Joop eal ID WhoOXe) Cone eg see 40,119 | .32, 387 7, 782 138, 666. 28 122) 423,21 16, 243.07 | 3.46) 3.79
Ota ge Sree ees 76,208 | 63,7837 | 12,471 | 265,911.65 | 287, 397. 16 28,514.49 | 3.49) 8.72
Local: ae
Commenciale..3 =: | 28,819 | 12,412) 11,401 | 82,867.66 | 50,050.02 | 32,817.64 | 3.48] 4.08
Isthmian Canal Com-
MISSION: 2 cee ee 665935.) 2952738 >) 37, 662 135, 874.32 | 39,244.24 | 96,680.08 | 2.08 | 1.34
Company freight..... 10, 686 5, 628 5, Sif See | cae | en el eos
Robals Mees kee 101, , 440 47,319 | 54,121 | 218,741.98 | 89,294.26 129,447.72 | 2.16; 1. 89
Total freight ....... “177, 648 688 “Ti, 056 | 66,599 | 484, 65863 | 326, 691. 42. 157, 9 962.21] 2.78 x 2,94
MAILS.
Weight. Earnings.
In- De- In- De-
Oe: 1905. | crease, | crease. ney 1906. crease. | crease.
¢ | Pounds. | Pounds. |Pounds,| Pounds,
From New York ......- --|:384,.000 | 339,000 | 45,000 |. .<.. o..- $22, 812. 79 864; OS sister ene $2, O51, 29
HrOOMMUTODe {226 ee: 53607-98451) @89) S46 alee: 2 898rl 3; 046.025" 8.204. 16n Geen 208. 14
Local wetter e teen eee eee 27, O79 OS OAT sees 31; 862 | 1,920.84 4,701.08 | $773.67-1. 22... ae
Potala 448, 027 | 437,787 | 10,240 |.....-. .| 27,779. 65 | 29, 265. 41 Joccttee | 1, 485. 76



yx



32 REPORT OF THE PANAMA RAILROAD COMPANY.

einen S.- So sialenon of ad Tn HEIs, i onnnge, ae passengers, Colon to
ae for joe months ag October 31, 1906. and dade, continued.





























“TREASURE,
Value. Earnings.
In- De- LL ‘De-
1906. 1905. |, crease. reroncel 1906. | 1905. Ine Crenge,
Som New ome |~g90, 646 | $538,513 |..2.2.-.: 19447, 867 | $177.35 ($1, 144. 61 |......---- | $967. 26
aro WULOPC Sse ses. os 1, 446, 913 $72, 209 gon) OSE Soe cies 4,381.21 | 1,780.91 |$2, 600.30 )........
ocal: . | ee ie eo
~- Commercial: .......-. 164, 680. 28, 500 : 136, 180. 90, 000 2247.02... 59:00: 11885025 |0 22. 22.
Isthmian Canal...-.-)...-..---.), 90,000 | SUSe ata Scant Gina Che ere resents rca 22, OO | eet su ek . 50
Motels ene 1, 702, 939 |1, 129, 222 | 573,017 | ee co .|4,805.58.| 3,007, 02 |.1,798.56'|.........
BAGGAGE.
Weight. — ae ~ Earnings.
So ee ae
1906. |. 1905... crease. | crease. _ 1906. 1905. | crease: | crease.
Pounds. | Pounds. |Pounds Pounds. es
From New York -...--:+-:| 61,405 | - 45,036 | 16,369 |--:....- $340. 39°} --B725.11 |e20.222.- $384, 72
From Europe soso Seat 50,607 | 21,491 | -84,116:)........ 7 112.14 455.75 $656. 39 See rarer
GOCA Es aoc ae Soe een PAL Bxo19) || PADS TAU We hs} osgenaas 4, T2IO9E Ss DoO, 21s HON ASG se. ee
Motel 24, pese 897 724 | BIsAGStat-.---- 557400 | Ae 7it07, | assem |.
PASSEN GERS.

Number. ota Cana :
tat aie $3 Th | «De- hop Sos De-
oe 1205. | eee ee ice iG 1905. Tnerease. crease

From New York: ee ee
Wins elasgees-. =. 1, 220 + my ee QQF--- DO a Pancreas gh € 692. 88 | $38; 098-03 | $1, 594585 |2 220...
Second class ....- 87 Deal Severs ae “64 381. 37 G42 Di Soe 60. 84
From Europe: ‘
pbirsielacs ess 2908 200 83. Lowe ewey we | dy 446,57} 1, 282,-87-|--—- 4635-70222...
it Eecoud class. emcee 154 138 LOS seeveet et 622. 06 © 583. 70 SOTO R ese
oca 3 Ss esa
First class........ 445 334-6 14, 160 | ~80, 174 |e dosee ase 000. 33 Sy2882) 9. O7Or Olsen ve a:
een Bees Files 74 172: "46, 051 ae 28 721. ; ict9, 074. 16%) a3, 887. CO = By Mele, AD oascoece
= ee oc : ek 61,700 |" 69; 159" m8 Sec cee (% 46,517.31 31 | 27,51 B18. “58 | 16, 998. 78 Jeet eee



‘i thet peer i? —
5; cet Phe

a _ Statement of classified raunoad earnings, tonnage, ae Ca Panama, wo, Coton, For
Bae ee months anding October 31; +1906 and. 1905. ) patnedial















| FREIGHT. ee Ss a; eae é _ ts a ae UNG ERS,
: Tonnage.
: Be = LONG. -~-1905......- Increase, Deerease
7 totes Ree
PHONO a oe 18,613 QOV OO) | eaeeceen cs 7, 063
mlosNew Orleans. ee sis Sos So Be ecards eras oe Wah ton | ie See
= OCW UT ODO crop doe eee rowreeiie ean teste cee esos os < Sc AO 20 eee Dire By el ae fects tose
og TOtAL ee neeccnete eateger ete eee tec ceeete ares] 6B) 242 | 87,898 |p senel a 4,651
Stoel Ene <4 re oe Ser ar Ge hear oS are.
oo es /Conimereial— Pear 2 SEN [item Seema Soin cherea
oa La Botner Ee A hee etn ee alate a alors ciate reise vee 4,964 1, 681 3, 3 288. Weve ne sou
Parma Colon ci el Pe SG Baie Sonne ee 15762" 9" 695° Nie eee
‘Isthmian Canal Commission... Beene vers ae eee ee ae ee BO Dy DAO | AG 906.4 ones. -
iP Companvamelontes et ek ee Gy es 1,062| 3, 65 |. ee S56an 2,208
Mo 36, 659 | 15,978] 20,681 |.........-
Motalereients oe ee 69, 901 | 53) e7i | 16030 hae ae



nw

REPORT OF THE PANAMA RAILROAD COMPANY. 33

Slatenient of classified railroad earnings, tonnage, and passengers, Panama to Colon, for





































four months ending October 31, 1906 and 1905—Continued.
FREIGHT,
Earnings. Rate per ton.
1906. 1905. Increase. | Decrease. | 1906. | 1905.
Through: Fe a |
To New York ...... epee ee toc $57, 424. 09 Die OOOsaO elec cee es $15, 244.40 | $8.09 | $2.89
NO NG we Orleans cect ccce eae oe De OES | Meets water 254s es ee ee
| 10 WUTOPC <2: -0s-< NM EAS Sea craters ' 46,708. 21 42,706. 00 | $8,997.21 |...-.. seers 73-1912 3550
Totals; scan. ee ee eee NOL 2780.1 Atb; Sav 03 [bees co: =: -- 11,249. 73: 8.13 | 3.05
‘Local: ae oe ee eae
- Commercial— ,
La Boca-Panama...... Bie cities ss 2, 471. 31 8402:357|— 1630996: 4-2-2222. 200 122 550
ee STethiniini Canal Commission. ........ 52, 309. 44 45 883. 97 36, 4D AT lence e nee QeO0 nla:
__ Company freight.......... Ge ta ges ee eens nie walle casos ear 1e ote a lo iele creo taloce | erateral aa eis eretare | ieee reel reer
Otc ee srtcree-e++-| 69,999.68 | 24, 861.45 | 45, 188.23 |.....- eacne-| 2 OL | £56
TNotal treight:<2.220-- see 174,126.98 | 140, 238.48 |.38, 888.50 |...........- 9.49 | 2. 60
MAILS.
Weights. . Earnings.
| , 1906. | 1905. | crease. | crease. = 1909. | crease._| crease.
: Pounds.|Pounds.|.Pounds.| Pounds. |
Mo New. York .<....<:. eee 37,856 | 34,224! 38,632 |.......- $1, 782. 84 |$1, 617.89 | $164.95 |........
MOPVHULOPC 2. oon cc cee DAO a 38097 acc eae 1, 427 228. 92 BUBB) lasececa sn $118. 93
WO Cal ess ie oe ee earn 1; 381 S347 1 O47Gl nee ee 836.738 | 27. 22 _ 809.51 |....--..
(NOL eee coscunay= eee 41), 407,138,155 | 3,252 |. 2.2. 2, 843. 49 1,987.96 | 355. 355.68 | Saeecas
peers pgitsa uel as i ae ee ete open Sunwear ena ciee a See a ‘TREASURE >> ecto pee cee ag ieee rece ceerentiert
Value. a seasons Earnings.
| | In- De- :
1906. 1905. CREE. | GHEE. 1906. 1905. |Inerease. |Decrease.
To UNew York = = .....; $580, 653 | $589,895 |......... $9, 242 |$2,358. 85 |$2, 272. 39 $56; 46: eee
ze ULC Sa SU ees (OV 4304)L 181836) |2-=~. - se:| 486; 400 122. 166,.738.-| 3,194, 0) |ecse ease $1, 627. 62
oca
Commercial....... 16002) - f1005|- 4500500: |e ae 2. 40 De Del see oe 35
Isthmian Canal. ..)2.. 5... 32. SO00S See se O008 Reese: SOQ ieee 5. 00
Poth eas. ce aL 283, 688 (1,798, 831 |... BIS, 143 | 4, 527. 98 6, O74, A9e oa eee ae 1, 546. 51
BAGGAGE.
Weight. Earnings.
on In- |. De= De-
1906. 1905. erohne lorence: 1906. 1905. Increase. crease.
| Pounds.| Pounds.| Pounds | Pounds ‘ -
Mo News Vork 222.5 =. la 7,471 9, 657 Siar 2186 | $47.08"), $LIST 502-2 ee $40. 52
FROPRULO PO ss ce er es ets ah ee ee |e oan | ea ce reget
OCE eee ee a oe DP ABIES I IBL) BUH Me saganne 7,284 | 4,966.30 | 2,318.30 |$2, 678.00 |...:....
ROCA a ee sree 239, 584 | 249,054 |........ 9,470 | 5,148.33 | 2,505.85 | 2,637.48 |........



HL Doe. 415, 59-23








34 REPORT OF THE PANAMA RAILROAD COMPANY.

Statement of classified. railroad, earnings, tonnage,,and passengers, Panama to Colon, for
four months ending October 31, 1906 and 1905—Continued.





PASSENGERS.
Number. | = 2 Barnings.
il see ele ee De-
THUG) | 1905, | Sradae, | Gretise,| 10e | 100d... | Increase: | (nasce.
First: Ate Renee 196 Botater eh. s: 158 | ST, 31-00 192 061 95 1.6. €880. 35
Second-class . sree 268 OSSxle neti hs 90) Webs dee el 244 OA ee Se. 91.12
To Europe;... gate al | odes

First-class... Be et aes cis 261 79 182 |........}| 1,466.41 738. 02 PU2B oO steerer ccs
gepcond: Class oo 30 el Use ceee ccs ’ 130. 50 73.75 DOA Dl iaee ae

Loca
Minet- Class... 5... 41, 867 | 16,543 | 25,$24 |.:...... | 16; 761.871 8,447. ol | 8) 314.36 10. -5---<
- Second-class .......... | 67,298 | 44,889 | 22,404 |........| 18, 104. 01 | 12, 140. lh peo Oper ee
Mtal......22.......] 1007015 | 68470 | 47, 728 122 .| 88, 796, Si) De 705. a 4, 14,001.30 30 eS

Exursir T.— Statement of steamship statistics jor four months ending October 31, 1906
and 1905.

FREIGHT TONNAGE.



1906. [eee O008 LS Increase. —lhc= -Decreuse:
aye Tonnage NTs Tonnage! q.; Ponnage . Tonnage
Sees. carried. IDS, carried. See carried. | °D1PS. carried,
Panama Railroad ships: e es {cee
ee Ge 15 | 10,947 12} 12,846 BRO Cok e< c's. Sel ce es eek 1, 899
x GSailed= -2.8: Beet ee 15 23,068}. % 11 | 1351594). 4 4,894 )-..-. Deer ee
Chartered passenger ships: i ga AR eee | . ye OT eI Re
sATLVOC ee eee 10 8, 049, | ‘9 |} 11, 662.) Be ee hess ces: 3,613 -
oe eS: woeeeeese |, 10) 24008 | 10 20,010 | eee Pits Saeco |e edie
Tibi el 00 66 447 | 42 68 837 | ee | 1890
1906... - 1905. Increase. Decrease.
Total freight. earnings.. eChuis $293, 141, 57 $285, 342. 5. oS > $7, 799. OGe Seca eke eee ow.

Average rate per ton Sees ae 4,41 4.18 | : fe Diabet atk aes eit ence isiaie
‘PASSENGERS CARRIED.

eos. | 05. | Merease. | Decrease,
I oe ey -Passen- i Pagsen- | | Pas : Passen-
Ships. gers. Ships. : gers. - Ships. gers.

Panama Railroad ships:



Merived 2 15 itso 12 735 | eee 400. lee

Said es “IB Seo 903 | ae eee eee
Chartered passenger ships:

PPTAVEO est eee SO 885 9. STA eee eat VL Sa orale. cso oe

Sale esas ol 1; 986 LO! 22,084 |. cee (902 |---|. ee

Mol ee Leo Best]. 4a eee | ein

1906 1905 Decrease.
Total passenger earnings -.- $150, 414,83 |... gitvone.ag |. $88) 368.64 |.......[242...--..
Average rate per passenger -| 26.71 | 80, 99 |... ss. $28








— 60rn ae HOUSE OF REPRESENTATIVES Doota@
1st Session : | : No. 541 .




_ ANNUAL REPORT —
OF BOARD OF DIRECTORS OF

PANAMA RAILROAD
COMPANY

1907

January 20, 1908.— Referred to the
Committee on Interstate and; Foreign
Commerce and ordered to be {printed



WASHINGTON
GOVERNMENT PRINTING] OFFICE
1908







#4

LETTERS OF TRANSMITTAL

To the S enate and House of Representatives

I transmit herewith the fifty-eighth annual report of the board
of directors of the Panama Railroad Company for the fiscal year
ended June 30, 1907.

| THEODORE ROOSEVELT.
Tur WuITE House, January 20,1908.

ISTHMIAN CANAL ComMissron, 3
Washington, January 18, 1908.

Sir: I have the honor to inclose herewith, for transmission to
Congress, a copy of the fifty-eichth annual report of the board of
directors of the Panama Railroad Company for the fiscal year ended
dune 30, 1907.

Very respectiully,
Gro. W. GoETHALS, Chairman.
The SECRETARY OF War. : ,

-

War DEPARTMENT, = |
Washongton, January 18, 1908.
| My Dear Mr. PRESIDENT:

I beg to inclose herewith a communication from Col. George W.
Goethals, U.S. Army, transmitting the fifty-eighth annual report of
the board of directors of the Panama Railroad Company for the fiscal
year ended June 30, 1907, in order that you may transmit the same
to oe . |

ery respectfully yours,
= - Wn. H. Tart,
Secretary of War.
The PRESIDENT. a

3



PANAMA RAILROAD COMPANY.

BOARD OF DIRECTORS.

GEORGE W. GOETHALS, Morvecat T. ENpIcoTt, H. H. Rousszau,

J. C.S. BLhackBurn, D. DuB. GatLLaRD, RicHARD REID RoGeErRs,

E. A. DRAKE, ' W. C. GoRGAS, JACKSON SMITH,

CLARENCE R. Epwarps, PrtTerR C. HaAINs, W. L. SIBERT.

OswaLp EK. ERNST, : .

OFFICERS.

Grorcr We GORTHAUS, president, (262. oe ee Culebra.

EH. A. DRAKE, vice-president Serko es oe ee es eee eeL cs Ve eee New York.

W. G.-BIERD, assistant to president and general manager.......-...-------+- Colon.

SYLVESTER DEMING, ERCOSUNCR oes esos ee ee ee New York.

THe Rosssporrom, SOChCLOTY, | fone ee Oe ee i eee ee ee ee ee New York.

Bo, BENSON, general: QUGION 2252-2 = 3 ee Usere cesses New York.

JOHN: ADAMS: GUCILOT. = 4 <2 se a ee re ee New York.

Res. MARSHAL, local quauor-4.=...2. eee Colon:

D. W. Ross, general PUCHOSUNG OUUCC. eee ee New York.

ALFRED ANDERSON, assistant purchasing and shipping officer.........-... .--New York.

ROLAND ALLWORK, inspecting engineer..... te aes ee ee New York.
—b..G. BAKER, Waster mechawie. 6 Colon.
_R. Bupp, engineer of maintenance of way ...... eee oi, ese Ree ee Colon.
SL: BAWDEN, Lenmangs superiniendent 25) ose ee New York.

RicHarp Rep RoGErRs, general counsel ......--....-- RSet e New York.

General offices.—No. 24 State street, New York.
4.



ANNUAL REPORT OF BOARD OF DIRECTORS OF
PANAMA RAILROAD COMPANY, 1907.

PANAMA RAILROAD CoMPANY,
: New York, November 1, 1907.

To the stockholders of the Panama Railroad Companys .

I respectiully submit for your consideration a report of the com-
pany’s financial condition and operation for the twelve months from
July 1, 1906, to June 30, 1907.

I call attention to the accompanying exhibits, showing income and
profit and loss account, general balance sheet, and statistical tables
which will give you detailed information upon the financial aspects of
the company’s business.

Capital stock issue (unchaneéd) ©... 52..-.2..0.....0.2. 5.2. ene $7, 000, 000°
The outstanding bond issues June 30, 1907, were:

Sinking fund 6 per cent subsidy bonds:
Original issue of (for payment in advance of the annual subsidy of

220,000 to the Republic of Panama) 222.2. 20.2 os $3, 000, 000
Redeemed by annual sinking fund drawings........._.........-...- 2, 660, 000
Outstan dine: 2.552) 52 is ee ee 340, 000
Oi these outstanding, 69 were purchased out of earnings and are owned :
byethe Company. 2 ae ee ee 69, 000
Heoviie in the hands ofthe public 271, 000

Through thefoperation of the sinking fund {this indebtedness will be redeemed in
08. ,

First mortgage 44 per cent twenty-year gold bonds:

Mthonizedsissue Ol... a ee $4, 000, 000
meld by the public: 6.0 22 2, 148, 000

- Redeemed by annual sinking fund drawings................-...-.-- 1, 261, 000
ifeld imecomipamy S-Weasury 2 322.2 = etek ee 596, 000
4, 000, 000

Through the operation of the sinking fund, in due course, this indebtedness would
have been reduced by 1917, the due date of the mortgage, to $1,199,000; but by Con-
gressional enactment a sufficient amount was appropriated and has been advanced to
the company to liquidate and pay off the entire amount of outstanding bonds as of
date October 1, 1907. :

At the last session of Congress the sum of $2,298,367.50 was appro-
priated to enable the company to redeem, at 105 and accrued interest,
in accordance with the terms of the mortgage, all of its outstanding
first mortgage 44 per cent bonds, and due notice was accordingly
given that said bonds would be retired on October 1, 1907. The com-
pany having made the required annual payment of $150,000 to the
trustees on August 1, 1907, only $2,148,367.50 was needed from the
Government, for which amount a note to the order of the United
States, dated October 1, 1907, bearing interest at 24 per cent per
annum, payable semiannually, has been executed and delivered to the ©
Treasurer of the United States. The amount advanced or loaned to

5

&
o



- 6 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

the company is to be liquidated by the payment of $100,000 to the —
Government on the 1st of August in each year. To date 2,657 bonds
have been presented for payment. -

The result of the company’s operations for the period covered by
this report shows that after the payment of cost of operation and all
fixed charges there remained net earnings of $1,049,551.56, which have
been used for improvements and construction, the expenditures there-
for during this fiscal year, as shown by Exhibit I’, amounting to
-$2,011,186.75. . |

During the fiscal year there was borrowed from the United States
Government $1,197,892.77, all of which was expended, in addition to
_ the net earnings, for improvements and construction.

Gross revenue receipts, expenditures, and net earnings for twelve
months ending June 30, 1907, compare, as under, with those of the
twelve months ending June 30, 1906:



. Earnings
. Operating .
Harnings. Over operating
| CEDOBECE: expenses.
TOO (ise sas See tires peo eee Sees $5, 199, 810.69 | $3,610,874. 30 $1, 588, 936. 39
See LOOG ees s SS ee ee ee Ve | 8,917, 840. 28 3, 116, 059. 01 801, 781. 27
EN CLE ASEMELOO (Sse 8 oe ene ae ee ee 1, 281, 970. 41 494, 815. 29 787, 155. 12
HARNINGS.
RAILROAD, —

The total earnings of the railroad for the transportation of all kinds
of traffic show an increase of $1,068,072.18, or 41.55 per cent over
twelve months of previous year. Of this increase in revenue, $670,-
937.39 was derived from merchandise and coal freight, $461,464.15
being increase on westbound business and $209,473.24 increase on
eastbound business. Passenger earnings increased $126,429.37 and
mail earnings increased $13,010.22. :

Freight traffic from New York and New Orleans to South Pacific
ports increased 6,734 tons, to Panama 5,957 tons, and to Central
America and Mexico 5,170 tons. From Europe to Central America
and Mexico there was an increase of 3,262 tons and to south Pacific
ports an increase of 12,679 tons. | | :

Traffic from Central America and Mexico to Europe decreased 171
tons and from south Pacific ports to Kurope there was an increase of
11,050 tons. |

The following table shows the freight tonnage carried over the
railroad for twelve months ending June 30, 1907, including company
freight, as compared with the twelve months ending June 30, 1906:

[Ton of 2,000 pounds, or 40 cubic feet.]

Twelve months
ending June 30—







Increase.
1907. 1906.
: Tons. Tons. | Percent.
Carried westbound........ Sere cig overs Seren a eae a een ese 640,182 | 409, 890 56. 17
CanrcdcegstpOung< = ss Sa ee ee ee 296,214 | 255,821 15. 79

Total west and east bound......-..2--2--++--eeeceeeeeeee _...-:...| 936,346 | 665,711 | 40,65



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. i
The gross earnings per ton moved on the road compare as follows:

Twelve months

ding June 3
ee Increase.| Decrease. :

Westbound......... ee Se 2 90. Ti $3, 03, | ce
Wasthound ©. = ee 2. 58 D 80 Oi

Average west and east bound... .............--.----2:--- 2. 67 DEAGE ee eee 3. 26,

Exhibit L, accompanying this report, shows the origin and desti-
nation of the freight carried over the railroad. |
The total revenue freight traffic of the railroad during the twelve
months ending June 30, including both merchandise and coal, was
894,824 tons, an increase of 272,550 tons, or 43.80 per cent. The
total revenue derived from this traffic was_$2,389,327.07, an increase
of $670,937.39, or 39.04 per cent.
In addition to the above freight, 41,522 tons of company’s freight
and 1,832 tons of mails and excess baggage were hauled.

Of the total freight tonnage carried, 68.36 per cent was westbound
and 31.64 per cent eastbound. In 1906 the percentages were 61.57
per cent and 38.43 per cent, respectively. :

The through traffic was 40.66 per cent of the total tonnage handled,
as against 50.83 per cent for twelve months ending June 30, 1906. .

Coal Gncluding company’s) comprised_45.87 per cent of the local
traffic westbound. : |

The following statements show the number of passengers carried
and the passenger earnings: : , :

NUMBER OF PASSENGERS CARRIED.

Classification. 1907. 1906. _| Increase. |Decrease.

- ee
: ___ | Per cent. | Per cent.
First-class passengers....... eg eee en 325, 077 125, 780 158245 2S ees
SecOnd=ClasSS DASSODPORS= so... ce 557,200 | - 322,450 T2580 eo eres
PLOUG cece nee ee ee a ee 882, 277 448, 230 06:84 |2 ce ces

PASSENGER EARNINGS. - =



Mirst-class passengers. $165, 194. 52 | $93,974.51 | 75,79 |..-.------

Second=class: passeneers= 161, 381. 77 | 106,172. 41 B2e00E as se eeee
Ota Soe 326, 576. 29 | 200,146.92 | 63.17 |........-.



AVERAGE RECEIPT PER PASSENGER. |



First-class passengers:
&.

TOUGH ete ecto oe en ee $4, 13 BA OD east _ 6.06
SOC ee ae ee ee Be DOG | sate aere 25, 42
Second-class passengers:

PE DT OUP Nie ae oe eS ae 4, 24 AAR eee a be





8 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. |

The gross revenue from the transportation of passengers was
$326, 576.29, an increase of $126,429.37, or 63.17 per cent, while the
number of passengers carried show an increase of 434, 047, or 96. 8
per cent.

“The revenue received from through passengers increased $941. 80, |
or 3.10 per cent, and the number of passengers increased 602, or
8.69 per cent, as ‘compared with the twelve months ending June 30,
1906. 3

Local passengers show an increase of $125,486.57 in revenue, or
73.89 per cent, and 433,445 in number carried, or 98.22 per cent.

MISCELLANEOUS RAILROAD RECEIPTS.

The total receipts of the several accounts grouped together under
- this heading amounted to $754,090.20, an increase of $251,071.28,
or 49.91 per cent, over twelve months ‘ending June 30, 1906.

The receipts for wharfage at Panama and La Boca and lighterage
of cargo in Panama Ee which are included above show an increase
of $22,555.17.

STEAMSHIP LINE.

. The total earnings of the company’s steamship line were $1,560,-
910.48, an increase of $213,898.23, or 15.88 per cent, over the twelve
months ending June 30, 1906.

_ ‘Freight traffic increased 16 078 tons, or 8.36 per cent, and the
revenue therefrom increased $06, 608.40, or 11.38 per cent.

Passengers show an increase of 2 908 in number carried, or 25.85
per cent, and an increase in earnings of $78,130.16, or 24. 70 per cent. -

The increase in revenue from the transportation of mails was
$36,199.45, or 23.18 per cent.

Of the total tonnage transported, 108, 899 tons were carried by the
company s steamers and 105,971 tons by chartered steamers. In the
twelve months ending June 30, 1906, the former carried 97,472 tons
and the latter 100,820 tons.

EXPENDITURES.





_ ‘The aebeG expenses for the twelve months ending June 30,
1907 and 1906, compare as under.

1907. ~ 1906. Increase.
Raion Se $2, 208, 526.77 | $1,731,888.55| $476, 638, 22
Steamship Lines ye: soe ees ee ig 1, 402, 347. 53 i 384, 170. 46 ~ 18,177. 07

PL OWA eee cess ie ee es oe oe eee 3, 610, 874. 30 3, 116, 059. 01 494,815.29

' This table shows an increase of gi94, 815.29 in total operating
- expenses, while there was an increase in total earnings of $1,281,970.41
(see pages 21 and 22).

RAILROAD.

CONDUCTING TRANSPORTATION.

- The expenses of this department show an increase of $93,966.84, or
10.27 per cent, over the preceding fiscal year, while the tonnage
handled shows an increase of 270, 635 tons, or 40.65 per cent.



§

ae

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. o

The increase in cost of conducting transportation is due solely to
the increased tonnage handled during the fiscal year ending June 30,
1907, over that handled during the previous year to June 30, 1906.
The subjoined statement shows the number of trains handled during
the past year, to June 30, 1907, and also makes a comparison between.
the month of June, 1906 and 1907, showing the increase in the num-
ber of trains handled.















































° Isthmian Canal Com- -

Panama R. R. trains. reat OneT Pani. ae
Direction. Se Fagen ee tots

| Com- ie :

mercial. | Work. | Total. | Special. | Work. | Total.
INOnthbO Unda oa a ee 6, 538 881 | 7,419 103 | 14,171 | 14,274 | 21, 693
€2 DOUUDDOUNG NS ar ee 6, 540 871 | 7,411 104 | 14,248 | 14, 352 |.21, 768
Total, year ending June 30, 1907....; 13,078 | 1,752 | 14,830 207 | 28, 419 | 28,626 | 43, 456
Average number per. day <.< <2... 02. 36 5 Al 0. 6 17.4 78 119
JiR SL OO (hase Sa ee i 1,100 184 | 1,284 8 | 2,582 | 2,590 | 3,874
Sine; WONG SSS Se See ee anna ee 945 | 49 994 58 | 1,576 | 1,684} 2,628
IMCTEASe ab TAINS eos ene 155 135 290 a50} 1,006 956 | 1,246
IMCTCA SCs Sate Seco cee -POLCent-« 16 275 30 a 86 64 58 47

Average increase per day in June, 1907, 5s
over June, 1906, trains. :.--..-.-..5..-. 5 4h 94 ais 334 32 414



a Denotes decrease.

Norre.—The largest number of trains passed busiest point (las Cascadas) in one day, 196.

Total number train orders issued during year, 21,985, or 60 orders
per day, approximately, of which number the Isthmian Canal Com-
mission business is accountable for 40, or 67 per cent.

| MAINTENANCE OF EQUIPMENT.

The expenses of this department show an increase of $194,400.62,
or 140.30 per cent. This unusual result is accounted for by the fact
that a great many old cars have been destroyed during the year, and
their book value charged to operating expenses. The old and lighter
equipment can.not, without constant repairs, be used with the new
and heavier equipment, and when the condition of the old equipment
is such that repairs are not warranted the cars are destroyed.

The necessity for purchasing further equipment to take the place
of the old equipment being destroyed and to handle the constantly
increasing business is apparent. a

In addition to the recular maintenance of equipment work, includ-
ing extensive repairs to 18 Panama Railroad locomotives, the fol-
lowing new equipment has been received and erected complete and
placed in service:

Roger ballast cars, 80,000 pounds:capacity...... =... -... 7. (2... cee 100
Completing order of 500 new box cars: |

Box cars, 80,000 pounds-capacity...2....- 2... 2. ee 273

pcock cars, 80,000 pounds Capacitive... ee 10»
WaWOOSe: Cans. 12
mover ballast enter plows. sss eee 8 Pe 2
Birsteclass coaches, length, 68 tect:... 2:5. 6s 7
Becond=class coaches, lonoth, 68 feeu..=. 5. 42. 5 ee ie
Barcave and mail cars, length 68 feet... = 2 2

Two first-class and 8 second-class coaches and 2 baggage cars, on hand, being set up.



4

10 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. .

At the shops of the railroad company there have also been erected
for the Isthmian Canal Commission: :

oon, Cooke morul locomotives. =. =... 2. 2-32. =... ee Se 14
LOO-tone baldwin mogul locomotives <2. <8). 6-5 20
Lidgerwood flat cars, 80,000 pounds capacity, extension sides...........-.-...--- 700
Western dump cars, 80,000 pounds capacity (on order for 300).....-.---..------ 126

On November 15, 1906, the railroad company began using the
shops leased from thé Commission at Cristobal, since which time the
vacated shops at Colon have been used only for the erection of cars.

MAINTENANCE OF WAY AND- STRUCTURES.

The expenses of this department increased $96,855.92, or 28.15
per cent, principally on account of heavy tie and ballast renewals,
due to increased traffic. The maintenance during the next fiscal
year will show a very large increase, account of heavy expense
keeping up the new second main line, which is almost entirely laid
on embankment and will settle badly, also extensive rail renewals will

have to be made and two wharves extensively repaired. — |

Track department.

_ The building. of the new double track and rebuilding of the old
line has been practically completed. The statements below show
in detail the work which has been accomplished. All of the double
track is in use except 4 miles, from Gatun to Lion Hill, and this 90
per cent completed. : |

The following table shows the number of miles of new second
main line constructed:

Number of} Yards



: Laid and
: Laid and 70-pound :
Location. not bal- 3 ties (22- | gravel (15-
: ballasted. | “ja sted. tail. inch center).| inch raise).
| Miles Miles. Feet. —
Milepost 124 to milepost 2934 .............. flee Sas ae: 179. 520 43, 960 58, 780
Milepost 334 to milepost 364.........-.... DEES eee 29,040 | ~ ~—- 7, 920 8, 660
Milepost 454 to milepost 464 .............- lee ae eae ne 10, 560 2, 880 3,140
Sd DOCH Sa ee oe ee [el eee: Se 10, 560 2, 880 3, 140
Milepost: 7.vommilepoOst 124-2 22 ee ise 5¢ 56, 710 LDF ASOS oe oe Soa
CRO Gee a en ea lene es 213 53 286, 440 78, 120 | 68, 720

There remains but one-half mile of track to be laid from milepost _
63 to milepost 74, the grade for which is completed. oe
The old main line has been relaid as follows:

Kind of steel.



SMOG s Sener re se a Ballasted with—
Taken up. Put down.
From Colon to milepost 2..... 2 |=56-pound. ~.2=.2.- 7O-pOUNG 2-5-5: Rock and gravel.
OL milepost 334 to milepost 22\=70=DOUNG 2.5.22 le oes do: 2325 ...-| Gravel.
MO UG ecient ers 43



Twenty-seven miles have been reballasted with gravel and 60,000
cross-ties have been removed. 7



/

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 11

New side and-house tracks, all laid with 70-pound steel and bal-
lasted with gravel, except. at Corozal, where stone ballast was used,
have been constructed as follows: |







3 Storage. Passing. Siding. House. Spur. Total.
Location. ee a | Se ee |e ee
No.| Length. |No.| Length. |No.| Length. |No.| Length.|No.| Length. |No.| Length.

Feet Feet Feet. |. Feet Feet Feet
SOLO Se ceisee l r eee eee 3,410 | 1 BAODD slates tie ei 4,035
PES pS RN So ag a 1 WOOO S| eee = eee eee ee nee Rates 1 1,500
ROTTER ee eh So ne | ay Pe 2 3, 2 O25 glial: eee S 4,337
SIVAN Cb ere Sree eles er eae Seer 2 Os OL esl eee ey ale en eae cs 2 5, 618
Gore ona 5 sioen see 1 2,109 | 1 DB (eeu eee ee 1 OBO eles ee 3 4,926
WGA UEKO OU BOS seneeeiere ee glee lhc hee 2 S51 O0: series es Seas See 1 1620 alas see ose 3 5, 300
BassO bispoe ee see ee ee ee oe 155022 2 A20H eens. Ose es 3 3,970
Has CaSCAC Ass ia ae ei ees | ee eS 1 Lp SO0 cl eece eee Set lie ole ca eee 1 1, 300
1 Dpaay ORs eee ee en le de Se ee ee eee 3,000 | 1 290 elise as |e cee 3 4,290
@imlepra = oss ee: 1 1380 | 1 2,360 | 1 Li GAQ si. oe |e ae ee re 3 5, 385
POGTO= Mia uel se ee Ses | Soe es ee elke ae eg eee 1 S002 Bees |S es 1 900
Coro Zale eae eh ee eee 1 WLOes | aso eee cee 1 600 | 2 2, 367
ROtaless 2| .3,494| 4] 8,277] 13] 238,497 | 8 8,110 | 1 600 | 28 43,978

For the accommodation and in order to take care of additional
business yards have been constructed, with tracks aggregating 52,344
feet, as follows:

a



Track.
Location. Purpose. 70-pound | 56-pound Total. Remarks.
rail. rail.
Feet Feet. Feet.
Cristopal-ce- || Catshed . 2 S22 cee 5, 926 6, 988 12,914 | New shop.
iD Noyes reget Pain Shops 225s sees a 1,691 1,132 2,823 | Work track.
DOs Ses: DOCK IN 0.14 ie eee Op OD2 a eee ee 3, 522 | Storage.
DOs sas DOCK NOx. 12305) eee 11, 230 Do.
Colones ==: CoachsyatG ss acre se le 880 880 Do.
Colon yard..| Relay 56-pound with 70- 3 O00 2 sees ese 3,600 | To 13 feet centers.
pound steel. 5
Gatun... Storage yard account, Isth- 1, 500 3, 000 4,500 | For material and trains.
s mian Canal Commission. -
La Boca. .... ‘Rerminal:- Vande. eee: 3, 250 9, 625 12,875 | Train and storage.
Moth cS ee. Be ee ee ee 30, 719 21, 625 52, 344



Bridge and building department.

' Ninety-four bridges and culverts have been extended for the
second main line to a total of 3,500 feet, at an average cost per struc-
ture of $428.92. ,

Hight new passenger and freight depots have .been constructed at
Pedro Miguel, Bas Obispo, Matachin, Gorgona, Tabernilla, Lion
Hill, Gatun, and Cristobal, and the old depots at Bohio and Colon
have been remodeled and enlarged so as to accommodate the
Increased business. These, with the depots which were rebuilt and
enlarged during the years 1905 and 1906, make an entirely new or
enlarged list of passenger and freight stations from Colon to Panama.

At Pedro Miguel and at Matachin new 50,000-gallon water tanks
and standard water columns have been installed.

Section houses for quartering foremen and laborers have been
built at Panama, Corozal, Culebra, Empire, Gorgona, and Gatun.
In addition to these, others are to be built at Pedro Miguel, Bas
Obispo, Tabernilla, and Lion Hill. These provide quarters for



12 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

12 to 14 laborers in the second story, and have 3 rooms for the sec-
tion foremen in the first story. °

At Cristobal 3 new 2-story compartment buildings have been
erected for married employees, providing for a total of 12 families. —
Other ‘‘bachelor”’ quarters have been built to accommodate 40 shop
employees. At Colon 2 cottages have been built for 1 and 2 families,
respectively, and a general office building 112 feet square has also
been constructed near wharf No. 1, in what is locally known as
“Shaler Park.”’ :

A concrete steel oil house 30 by 40 feet, a concrete steel coal-stor-
age and ice plant 110 by 200 feet (having a capacity of 50 tons of ice
per day and 90,000 cubic feet of refrigeration space), new steel build-
ings for laundry, bakery, a frame dry kiln 30 by 60 and a new store-
house 35 by 125, and an additional commissary storehouse, 70 by
120, have also been completed. |

The new fast coal-handling plant at wharf No. 14 has been com-

pleted and is in use. The coal chute, roundhouse, and cinder pit
at the Cristobal terminal have been completed, and a new boiler
shop is planned and will be erected during 1907. These, with the.
machine shops and the accompanying storage and car yards, make
the Cristobal railroad terminal complete in every respect.
Wharf No. 11, at Cristobal, has been completed and 9,350 addi-
_ tional square feet of roof has been added. A foreman’s office, ticket
office, tool room, waiting and baggage rooms have been constructed
on the wharf. | )

Extensive repairs are under way on wharf No. 4, and an addition
of 12 feet on the north side isto be made to facilitate the handling
of freight. © : |

Wharves Nos. 1 and 2 are being strengthened, repaired, and painted,
at a total cost of $75,000.

Twenty-seven thousand square feet of corrugated iron roofing have
been put on the triangular wharf at La Boca, and 54,000 square feet
- on the new lumber wharf. The capacity of the steel pier at La Boca
has been more than doubled by lowering the narrow freight handling
platform to a level with the original tracks and by building an adjoin-
ng oe at a lower level for the handling of cars to and from the

ock. |
Hight new electric cranes of 4 tons capacity each being installed on
the La Boca wharf are 50 per cent completed. |

STEAMSHIP. LINE.

Warnings of the company’s steamship line were $1,560,910.48, or an
increase of 15.88 per cent, while operating expenses were $1,402 347.53,
an increase of but $18,177.01, or 1.31 per cent. This very encourag-
ing outcome was accomplished despite the fact that there were 74
round trips made this year as against 65 last year, an increase of
13.85 per cent in the efficiency of the line, and considering the almost
horizontal advances made in wages and the greater cost of nearly
| every inne used in transportation, must be regarded as a satisfactory
result. | : | |

The total cargo of all classes carried between New York and Colon
by our line was 214,870 tons, as against 198,292 tons last year, or an
merease of 8.45 per cent. | =

—



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. Le

The active competition of two important foreign lines for traffic
heretofore handled solely by this company’s line has been followed
by the outcome which generally results frem an increase in facilities,
viz, a material increase in the aggregate of tonnage to be transported.

The number of passengers carried both ways by our vessels, mostly
employees of the Canal Commission and their families, has taxed their
capacity, which has been enlarged from time to time as possible.

Competing lines have afforded little, if any, relief in this traffic, as
the company’s vacation rates to its own employees and those of the
Canal Commission do not apply by those lines.

Operating expenses have been seriously affected by cost of impor-
tant repairs of wear and tear to our ships, due to the necessity to turn
them round rapidly in port, in order to accomplish the increase in
their total voyages, so much_so that a reduction in round voyages
for next year has been determined upon.

The company’s dock facilities in New York Harbor have not yet
been enlarged, because no others are obtainable except by unwar-
ranted outlays. However, arrangements are under way to lengthen
the company’s pier about 100 feet, to the new pierhead line, and the
advisability of securing an unloading berth on the Hoboken side of
the Hudson River is being considered.

At the Isthmus the company’s vessels are now berthed and rapidly
handled at our Cristobal docks in the mouth of the canal; additional
berths in Colon Harbor are thus provided for the vessels of our co-
carriers.

During the year our S. S. Advance and Finance were equipped
with large cold-storage space, and Allsanca now under reconstruction
will be similarly fitted. The refrigerating plants installed on S. S.
Colon and Panama (under charter from the Canal Commission) may
be enlarged. |

Allianca, already withdrawn from service for the purpose, is to
be practically rebuilt at a contract cost of $340,000, with an increase
in her capacity of 900 tons, and completed early in 1908. To re-
place Allianca while out of service (because a suitable one of Ameri-
can registry was unobtainable) a British vessel of large capacity has
been chartered. |
| | COMMISSARY DEPARTMENT.

The commissary department has developed into a well-organized
and well-stocked modern department store comprising, besides the
main store and the industrial and production plants at Cristobal,
seven branch stores located at Gatun, Gorgona, Empire, Culebra, Rio
Grande, Paraiso, and Pedro Miguel. Four additional stores are being
opened at Bas Obispo, Tabernilla, Las Cascadas, and La Boca.

With the completion in July of the new cold storage and ice plants
at Cristobal excellent cold storage facilities will be provided, and b
the closing down of the temporary cold storage plant at Colon all
cold storage articles and ice will be handled from one plant, with in-
creased efficiency and less cost. : | |

The opening of the new bakery and laundry plants in January and
April respectively added to the commissary department two very
important features. 7



14 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Operations for the coal year are shown below:

Stock on hand June 3051906) 2 2. See $168, 155. 15 Eas |
ROtaslockrecely ed... ee 1, 887, 476. 86
a 7 —_____—_— $2, 005, 632.01
Total sales, disposed of as follows: : :
Isthmian Canal Commission hotels and messes.....-.- (13s 203. 15
Various departments Panama R. R. Co....-..---.--- 62, 742. 48
Panama BR; bv. Steamship line. - 2.2.3. 2.. 2-2. 225. 1, 714.75
Isthmian Canal Commission hospitals and sanitary
department (charged direct): -:..-.... 22-2... .s.:- 147, 958. 02
Various Isthmian Canal Commission departments on
awards from material and supplies.............--- 84, 488. 96
Cash sales (principally to United States ships)......-- 4,135. 75.
Personal accounts: a ee eee 38, 926. 83
Coupon-sales:. 25.22 2 2 ee 800, 682. 02
Supplies used from stock account ‘‘expense accounts’? 32, 260.72
————— 1, 946,112.63
Asverage permonth: 22. eee ee is 162, 176. 05

The amount of stock on hand June 30, at retail value............- 547, 447. 55
MATERIAL STORES DEPARTMENT.

During the fiscal year the store department handled material as
follows:

| DEBITS. |
Material on hand June 30, L906 Ss = $222, 676. 04
Material received by New York invoices.............-- 1, 756, 781. 14
Material received by purchase from Isthmian Canal :
Commission. 2 SS se ieee Se 445, 785. 78
Material received by shop work-........-..-.:--.----- 83, 406. 80
Material received by other purchases..-.......-.....- 86, 238. 59
= Lott as ee So $2, 594, 888. 32
| CREDITS. :
Material disbursed to various departments. .... Se 2, 193, 130. 07
Material disbursed to New York credit invoice........ DAO Nei.
Material disbursed to Isthmian Canal Commission and
BUMCryPCESONS y=. 5). 22-5 ss es Se 152, 604. 58
Material on hand June 30, 1907.........-... ee es 227, 374. 50
; ——_—___——— 2,594, 888. 32
The cost of handling this material has been:
Peay Olle 2 ee eee Coe ee ee 52, 527. 49
Other expenses...........- Se Se 26, 993. 51
Motil - . ee 79, 520. 99

Per cent store expense to total business, 3.4.
LAND DEPARTMENT.

. There has been considerable increase in.revenue from land rents
since January 1, 1907, owing to the new rates of rental adopted for
Colon lots, which now average 6% cents per square foot, or $260 per
lot (80 by 130), annually, against 24 cents per square foot, or $110
per lot prior to January 1. :

All lots requiring new leases were advertised for public bids, and
following the policy of giving preference to those who previously held
leases all such persons have secured new leases to cover the lots they

had. 7



—

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 15

Practically all of the Colon building lots have been filled to a level
of 4 feet above sea level, in accordance with sanitary requirements,
and another row of blocks between D and E streets is being filled by
hauling dirt from Gatun. g |

The title to a large tract of land near Empire which has long been
disputed by Senor Santiago Saundio was decided by the Canal Zone
circuit court in favor of the Panama Railroad, and a new town site
has been platted and lots leased, which will yield material revenue
from rentals. 3 |

TELEGRAPH AND TELEPHONE DEPARTMENT.

The telegraph and telephone line across the Isthmus was prac-
tically completed June 30, 1906, and the work in this department
during the past year has been principally that of connecting up new
telegraph and telephone stations and establishing new telephone
centrals. a

Thirty-seven thousand nine hundred feet of 10 and 20 pair cables,
400 miles of galvanized wire, 60 miles of copper wire, and 10 miles
twisted pair wire have been strung. :

Nine telephone switchboards have been installed at Gorgona,
Tivol Hotel, Culebra, Colon, Ancon. Hospital, Empire, Gatun,
Paraiso, and Mount Hope. A total of 310 telephones have been
installed.

Fourteen 4-blade semaphore signals and 4 Hall automatic electric
signals have been put into use for the operation of trains by block
system. |
_ The construction of additional sidings and yards and the develop-
ment of dump grounds of the Isthmian Canal Commission have
necessitated the moving of 447 telegraph poles, or a total of 11.2
miles of the line. |

The increasing demand for telephone service indicates that dur-
ing the coming year one additional cross arm carrying 6 copper
wires will have to be added to the present line across the Isthmus. .

CONSTRUCTION OF RELOCATED LINE OF ROAD.

About the middle of May the work of relocating the line of the
Panama Railroad necessitated by canal construction plans was be-
gun, and since that time 10 connection tracks have been started,
to extend from the now operated line over to the relocated line at
various places. The work of building these interchange tracks for
the purpose of handling machinery, men, and supplies for doing the
necessary grading has been 75 per cent completed, and a force of .
1,000 men, 4 steam shovels, and 1 pile driver is at work on the actual
construction of the new line. ; =e
Inasmuch as this work is made necessary by the building of the
Panama Canal the Canal Commission is to reimburse the railroad
company for all expenses in connection with the work and furnish
all of the construction material which is to be used. This line, when
finished, will leave the present line at Mindi and will be located at a
distance of from one-half to 14 miles east of the existing line from
Mindi to a point about 1’ mile north of Panama.
There are practically no grades on the new line except from Mindi
to Gatun, where the rise will be at a rate of 52 feet per mile, and from
Pedro Miguel to Panama, where the downward grade will be slightly



/

16 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

less. Curvature on the new line is on the whole less objectionable
than the existing line, but there will be some sharp curves on account
of line being of necessity located among the hills in order to maintain
a high elevation necessary to keep above the level of the Gatun

ake. |

The high elevation maintained necessitates a very large percentage
of the road being built on embankment, to a total amount approxi-
mating 12,000,000 cubic yards, while the excavation is about 3,000,000
cubic yards. The greater portion of the grading of the new road
being embankment it will be made from material excavated and
hauled from the Culebra Cut and dumped from trestles which will
be driven on the location of the relocated railroad.

Port BUSINESS.

Number of vessels and their aggregate cargoes handled through our ports during fiscal year
ending June 30, 1907.



















Vessels. Tonnage.
Increase. Received.
Port and kind of freight. ‘This Teast ee
year. year. NG Per This Last p
: cent. | year. year. er
Tons cent.
Colon and Cristobal: =
Rho COM Sa see SoS tes 44 23 21 91 | 203,451 99,4388 | 104,013 105
Other freight .-. 22222222. 836 716 120 | 17 | 364,748 | 258,136 | 106,612 4)
Potales ees Ses 880 739 141 19 | 568,199 | 357,574 | 210,625 59
Panama and La Boca.....-- 160 146 14) 10; 126,083 | 144,689 | @18, 656 a13
Tonnage.
Dispatched. ° Total tons. =
Port and kind of freight. SnGren ee: THovaake:
- This Last Pe This Last
year. year. er year. year. Per
Tons. Cents |= Tons. cent.
Colon and Cristobal:
Conte secre see 0 Of Rese See eto 203, 451 99, 488 | 104,013 105
- Other ireight...--.2 ks. 132,424 | 131,742 682 3} 497, 172 | 389,878 | 107,294 28
TOCA oes See ee 132,424 | 131,742 — 682 4| 700,623 | 489,316 | 211,307 43
Panama and La Boca.......| 193,344 | 165,711 27, 633 17 | 319,377 | 310,400 8.977 | <8

_ @ Decrease due to the large amount of Isthmian Canal Commission lumber discharged at this port
during the year ending June 30, 1906.

COAL AT ISTHMUS.

Coal received at Colon was distributed or issued as follows:

Quantity.) Per cent.

To Panama Railroad— | ' Tons. .
MOL TOAGON INOS oot asst eo cern ee ene ee ee en Rete oe ae Nowe ome 17, 297 84
HOD SWitCh CNSINCS. cane. he ee eee eee wt ee eee ee Berea are ce ere eens 6, 645 3
‘For other purpores TEINS Cis ete SS eR cas areata Pee eR ee eS Tee 14,244 | ii
For Panama Railroad Steamship Line.............. SEE eS ote e cece ses coe SOOM cess,

To other steamship lines .............- Bee es ee eee. Saas oss See e es 37, 887 |. 19

To Isthmian Canal Commission (all departments) ..........-2..- 222-222 e eee eee eee - 116, 586 57

WO mMBIscellanCOUS 2-2 sc acsce ee car aee oe ewe Rose eae oe Son eae Sap eee euseees _ 7,095 34



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 17

ELECTRICAL DEPARTMENT.

The electrical department has installed during the past year 3,003
incandescent lights and 78 arc lamps. The plant at Colon has so
far been able to meet all demands made upon it, but at present is
carrying an overload of 15 per cent.’ Plans are now being prepared
for the erection of a new plant at Cristobal with sufficient capacity

to supply current for not only Colon and Cristobal, but also for Gatun.
~The new La Boca electric light plant is 60 per cent completed, and
with the completion of this plant there will be considerable surplus
power.
GENERAL REMARKS.

During the period from January 1, 1894, to June 30, 1907, inclusive,
the percentage of total expenses to gross earnings was as follows:

Per cent.
NS OAs ee A es ea es er 69. 93
DOO ee 61. 63
S905 ee ee AS bese ei ete Base ee 03. 94
ee taxes and appropriations for depreciation, etc.:

SOLS ee ee ee ae he ie ee 6112
SOS a ee ee ee 64. 91
18995 ee 64. 66
QO 5 ee 65. 25
QOD oe ee a ee ee ee eee 64. 72
Or including Pacific Line not operated in 1900... 2 76. 34
Including taxes and appropriations for depreciation, etc..-...-...... 65. 87
Or including Pacific Line operated for six months.........-...--..-- 71.02

_ Including appropriations for depreciation and special repairs:

OOS ee ee ee Ne Soca gee e2-- 00-01
Ae a a ee 63. 69
OO oe 77.49
1906, June 30 (12 Salis) SRT ee ie 79. 54
1907, dune 302 Cl 2emomths)\ie e252 ee es ee 69. 44

During the year all of the necessary additional passing sidings and
storage tracks made necessary by the enormously increased business
due to Isthmian Canal Commission dirt trains have been completed.
The new second track is in use except for a short distance and the old
track is entirely rebuilt, so that at the end of the year the congestion,
which had become serious, has been almost entirely eliminated.

With the completion of repairs at wharves Nos. | and 2, all of the
company’s wharves will be in good condition and the entire line,
including terminals, will be in shape to care for a very great tonnage
without delay, extra expense, or congestion.

The block system of dispatching trains has been put into use on all
double track, affording the freest possible movement of trains con-
sistent with safety. All freight trains except one local in each direc-
tion are run at night. The extra expense of handling these trains at
night, as well as the additional expense account of operators to handle
the block signal station, is incurred in order to handle Isthmian Canal
Commission trains with the least possible delay during working hours.

During December, 1906, a historical flood occurred, due to a rise of
the Chagres River, which at Matachin reached an elevation of 78 feet,

or 33 feet above ow water. Fifteen miles of the track between

Mindi and Bas Obispo were under from \ to 8 feet of water, but aside
H. Doc, 541, 60-1——2



g& REPORT BOARD DIRECTORS PANAMA RATLROAD COMPANY.

Trom softening the new double track embankment and washing away
about 200 cross-ties, no serious damage was done. ‘Traffic was inter-
aupted from 10 a. m. December 3 until 6 a.m. December 6.

The density of traffic has been so great that a 70-pound rail has
_ proved entirely too light; it became necessary to change out the rail
«on several sharp curves before it had been in actual use more than fif-
‘teen months. An order has been placed for 3,000 tons of 90-pound
‘wail to replace the 70-pound on all curves between Tabernilla and Las
Cascadas, where there is the heaviest movement of dirt trains.

Operation of new coal-handling plant at wharf No. 14 has so far
‘facilitated the unloading of colliers, by increasing the rate of dis-
eharge to 700 tons daily at a rate of only 20 cents per ton, that the
eompany was able to secure a freight rate Norfolk, etc., to Colon,
of $1.52 per ton, as against $1.65 per ton formerly.

Between June 30, 1906, and February 22, 1907, 2,023 tons of ice
were manufactured by the Colon ice plant, a quantity that was in-
sufficient to meet the demand; the Colon plant was partly closed
down, and since February 22 the-new plant at Cristobal has produced
3,292 tons and has capacity to more than meet present requirements.

At the annual election held in April, 1907, Directors T. P. Shonts,
John I. Stevens, Charles E. Magoon, B..M. Harrod, William Nelson
Cromwell, J. D. de Obaldia, Roger L. Farnham, and W. Leon Pepper-.
~ aman retired, and were replaced by George W. Goethals, J. C. S. \
Blackburn, D. DuB. Gaillard, W. C. Gorgas, H. H. Rousseau, Rich-
ard Reid Rogers, Jackson Smith, and W. L. Sibert, the newly ap-
‘wointed members of the Isthmian Canal Commission, and the chair-
man of the Commission was elected president of the railroad.

Mr. Drake was elected vice-president and Mr. Richard Reid Rogers,
“zeneral counsel, and Mr. W. G. Bierd, general manager on the Isth-
aus, was also appointed assistant to the president.

Respectfully submitted. |

GrorGE W. GorTHALs, President.

EXHIBITS.

PANAMA RAILROAD COMPANY,
ACCOUNTING DEPARTMENT, .
New York, N. Y., October 17, 1907.

Dear Sir: I herewith submit statements of income account, general balance
sheet, and tables showing results of operations for the fiscal year ending June 30, 1907, .
-as follows:

Exhibit A. Income account and profit and loss.account.

Hxhibit B. General balance sheet.

Exhibit C. Earnings and expenses.

Exhibit D. Operating expenses of railroad.

ixhibit E. Operating expenses of steamship line.

Exhibit F. Expenditures for improvements and construction.

Exhibit G. Equipment and plant replacement accounts. '

“xhibit H. Classified railroad earnings, tonnage and passengers, Colon to Panama,

and Panama to Colon. | : |

‘Exhibit I. Railroad freight statistics.

dixhibit J. Railroad passenger statistics.

Exhibit K. Railroad general statistics.

‘Exhibit L. Railroad freight tonnage handled.

‘Exhibit M. Steamship line statistics.

“xhibit N. Locomotive and car equipment.

#xhibit O. Floating equipment.



REPORT BOARD ee PANAMA RAILROAD COMPANY. 19

In December next the following tables, on the results of eporOne for the
four months ending October 31, 1907, will be prepared and published as a suip enue
to this annual report, viz:

Exhibit P. Income account and profit and loss account.

Exhibit Q. General balance sheet.

Exhibit R. Summary of earnings and expenses.

Exhibit S. Classified railroad earnings, tonnage and passengers, Colon to Panama,

and Panama to Colon.

Exhibit T. Steamship line statistics. 2

Yours, very truly, | ‘
JoHN ApAms, Audttor.
Mr. G. W. GOETHALS, :
President Panama Railroad Co., Culebra, Canal Zone.

Exuipir A.—IJncome account and profit and loss account for the year ending June 80,
907.

INCOME ACCOUNT.



Railroad:
Gross earnings PVOMI OPCTALIONS <7 aan coos Pessapht Mine aero asas Rane $3, 638, 900. 21
OPPLratin S:expPCH Sess. se ee ee ee ie Se ee Rae eee ee 2, 208, 526. 77
INGt Carnin es irOmvOperatiON cs sc2.s- ce eee eee Caren eae SS eme ome $1, 430, 373. 44
Steamship line—
GLOSSeCaEMIN GS ATOM“ OPCLallOMe sean eee oe ee es ee 1, 560, 910. 48
Operdbileexpensess 25 ae oy a eee reer ee ren te eee. See ee 1, 402, 347. 53
Net earnings from. QPCR GL OTN Se eee eee ee SUS ee tas RE een 158, 562. 95
Add income from: gts
TMECKLEST ONESCCUTIGICS:O WINCG se oe ys eee en en eee 65136, 25%
Premium and interest on treasury bonds drawn for TEGEMPLLONe. = oes 2, 281. 25
Imbercst: and:exehanee ss. see sae Se ne Se ce oe ia we eee 9,131. 42
: SS anne 17, 548. 92
1, 606, 485. 31
Less

Interest on funded debt—
First mortgage 44 per cent bonds—
Interest on $2,163,000, July I, 1906, to June 30, 1907...........--. 97, 335. 00
Less—
Interest April 1, 1906, to June 30, 1906, on 109 bonds
drawn for redemption and paid by trustees in Octo-

TTL NG ae ieee ee er eae 1226225

96, 108. 75

inst morte e- simkimo. Tunes. ey. as ee oe es ee 150, 000. 00
Concessionary subsidy to United States Government inieter treaty -
Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds—

533 bonds; July 1 to October 31, 1906... 52.22.22... $10, 660. 00
340 bonds, November 1, 1906, to June 30, 1907------.-- 13, 600. 00
24, 260. 00 — ne
Redemption Of Subsidy DONdS= 4622 eae eee 200, 740. 00
———— 225, 000. 00
INGETES (ONE OANSe oe ee a ee Ss Eee ere 38, ROL QOS
entalordocks and=machine SHOPS: 2 sees... = 6c ce oe eee 22, 073. 10
: : ——— 556, 933. 75
Net income for twelve months....-..-.-.....-- SES OSS a Eee sera aaah aoe crea a 1, 049, 551. 56
PROFIT AND LOSS ACCOUNT.

‘By; Dalance-1O:credit Of promt and 1OSss;-s une 30; 190G2- 2S: acca ene ee eee a 088, 589. 81
Surplus from income account for twelve months ending June 30, 1907 ee ae 1,049, 551. 56°
Hirst mortgage 44 per cent twenty-year sinking fund gold ponds, Tedeemed ssc. 140, 000. 00
Adjustment of accounts OL PLOVIOUS:V CA te wesc Ne Le ee eee en ee 3, 082. 92
‘Value of material recovered from dismantled lighters......-.......-.-.-------------- 100. 00

= 6, 281, 574. 29

Less: :

To sundry uncollectible accounts written off.........--..-.-- Oe ee 243. 53

By balance torcredit-ol-proticand loss, June S090 La etc ee sete eee seus. , 6, 281, 330. 76

2



Exuipit B.—Balance sheet June 30, 1907.

‘

Sc E00 00 2 a rc fee ee enna ee ee eee

Cost of road, real estate and equipment
Improvement and construction accounts........-.-------------------
Floating equipment:
Steamers Allianca, Finance and Advance. $596, 749. 66
Add cost of installing refrigerating plants
on steamers Finance and Advance....... 34, 315. 07
$631, 064. 73

Tugs and lighters.........--- Rates neo eve tGe Mn Ie 290, 943. 80

wwe eww meee eee ewe ee ewe eww

MotaliGost, OL PRODGMLYEE wae ach oes onic ne ec atome ve Meter ie ciara
Bonds in treasury: ;
_ Sixty-nine 6 per cent Panama Railroad Company

sinking fund) subsidy DONGSiuiah ito alae ee 69, 000. 00

Five hundred and ninety-six 44 per cent twenty-year

SOL Simian TUNCHHONd See ee ce Nae een 596, 948. 75
On deposit with financial agents for redemption of bonds:

44 per cent twenty-year gold bonds.-.......-.......-.-------------
Advance of subsidy to Republic of Colombia. ..................-.-----
Current assets:

Cashvmibanks amd withvagsenusinmen ue se nr ee 491, 833. 04

Coaltandisuppliesonmhand see hes ese Anos Sc: 758, 559. 47

Due from connecting companies ..----.-.------ eS 208, 571. 55

Due from United States Government—

Isthmian Canal Commission........-.-- 660, 784. 81
Post-Office Department ..........----- 61, 128. 50
Navy) Gp amoment 40. ei nei eer: - 2, 580. 00

724, 493. 31

Due from companies and individuals ........-......--- 71, 252. 66

Miscellaneous) ACCOUMUS iE: Mes yore es cee cee ads es 495, 795. 24

Unearned insurance and charter of steamers .......-.-- 60, 038. 23

General average disbursements....................---- 1,914.15

$13, 721, 107. 87

1, 162, 085. 20

922, 008. 53

15, 805, 201. 60

665, 948. 75

1,705. 00
340, 000. 00

|



2, 812, 457. 65

|
|
19, 625, 313, 00

CaplivalestoGk gence Ma ie ee ee ie Pa ST Re ee ara eae ear aat Ae
43 per cent twenty-year sinking fund gold bonds (author-

ized issue, $4,000,000): Issued to date (4,000 bonds, less

1,121 bonds previously redeemed)’. .:.--.---..---- Pee $2, 879, 000. 00

Mess'drawiitor redemption tm lQ0G2. 2h. Se te 140, 000. 00

Total capital stock and mortgage liabilities ......-.....-...-......

6 per cent\gold sinking fund subsidy bonds¢......-...-.-.........-.---.-
Bonds drawn for redemption not presented for payment:

44 per cent twenty-year gold bonds.....-.-...-.-......- 1, 072. 50

GAeH COMUSUDSIGY ONGSs 22s o5 os Tae ee eo a 1, 000. 00

Funds for redemption of bonds—
44 per cent twenty-year gold bonds.......-...-.....-.-

138, 132. 50
6G percent Subsidy DOmndstesh si 26h. ae ae ce

183, 675. 00

Equipment and planb Treplacemeniy LUNGS ioe te ee ate ee
Current liabilities:
Due to United States Government—

Concessionary subsidy accrued .......- $9, 375. 00
Bills payable—for cash appropriated

through Isthmian Canal Commission

for new equipment and improve-

TMOTNUSR ia eee en Ns RS eae TL ate 1, 647, 892. 77

1, 657, 267.77
39, 086. 96
5, 782. 50

Isthmus drafts not presented
Coupons NOt Presenued ees oes ee eee a
Accrued interest on bonds: ;

4 per cent twenty-year gold bonds

(QUIGBIDONGS) pee ee seat ee oo 24, 333.75

6 per cent subsidy bonds........-.-.... _ 3, 400. 00
ie ae 27, 733. 75
Audited: vouchers and pay Tollse 2. 2225. ). 2 sles e 889, 079. 85
Duetoeonnectinglines: ilies ee ee ye 39, 191. 93
IMiscellaneOusACCOUMUS. caso cece ELS ose ce: 93, 873. 84
WWnmaldyWakesesne eee os Fae ha cet ek es ees en as - 6, 289. 16

Balance tocredit.on prot ang loss. ik. 5 ew el A ei ee

$7, 000, 000. 00

2,739, 000. 00

9,739, 000. 00

340, 000. 00

2, 072. 50

321, 807. 50
182, 796. 48

2,758, 305. 76
6, 281, 330. 76

19, 625, 313. 00



a Three hundred and forty 6 per cent gold sinking fund subsidy bonds of $1,000 each, amounting to $340,000, issued November 1, 1880, fall due November 1, 1910.

To meet this bonded indebtedness of $225,000 annually of the Colombian Government subsidy was pledged till March 27, 1908, the same to be applied by the company, first

to the payment of the interest, and second. as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an amount equal

to the then surplus of the subsidy sinking fund, the drawn bonds to be paid on November 1 after each drawing, and thereby redeeming the whole issue in 1908.

“ANVdIOO GVOUTIVE VNVNVd SHYOLOSUIG GYVOd LYOdau

OG



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 21

Exurpit C.—Statement of earnings and expenses for the years ending June 30, 1907



and 1906.
Earnings. 1907. 1906. Increase. Deerease.
Colon to Panama:
Rreighit Secession ee ie eo eee $1, 633,374.54 | $1,171, 910.39 $461; 464015: 5 ore
IRAISSCH POLS Sioa ea eee re ee 170, 271.26 107, 247.66 63,028.60 32222
Mail Ss See are niente a fame eer 98, 883.65 86,775.02 1210868: eee etic:
SWXUrE DAPSALG eo: ates teee eee 20, 331.63 Ue 795.64 Ds OBO~ OO: \sios Beene
RT CASUIO Oe sea eee oc iw aaa ciee seen il, 209.74 12 090209) esos ess ase $880.35
IBEX ROSS oo ety et ee ee SSN RGr SOMO! Sires eee
ROCA sk eee eee ee - 1,934, 438.38 1,395, 818.80 039; 019 208 s| Soe
Panama to Colon: :
BTOISnG 2 sae ae ee ee 755, 952.53 546, 479.29 209, 473.24 |...-..2....-
RASSCNL CNS Sores ee eee ne ee 156, 305.03 92, 899.26 |: O35 400 CTIe | a= aee
Magn So sees ee ete oe ee 7,379.20 6, 477.61 GOL S90 See ees
Extra, bageeee.. 2 co ee ee 17, 077. 50 12, 333.75 A (Boel Onl se cee
RT CASUTO is Se ae eri aeee eee ie 13, 068.75 TS; SUQS40) cee ee oe ee 731.65
EE DNCSSi eo scrk iat enc ee ee es DSS nODe | eeceres se ee 88850222 eee
Dota > ee ee 950, 371.63 671, 990.31 BIS cool Ode aa sean ere
Miscellaneous:
WIShera ge eee cee ae eee cae 27, 856. 65 66; 8525025). soe eee 38, 995. 67
Water supplied shipping...........--- 25, 605. 38 DOS AOOS ae ee 382. O1
Rental of-property 2-2. ee os See 54, 656. 45 23, 082. 48 SLOSS OM leo see ee
Wharfage and light dues, Colon.....-- 89, 373. 09 78, 1538. 00 Pel 2202092 ere eee
Wharfage, Panama and La Boca .-..- 230, 883. 54 169, 332. 70 Gl 5502845 eee
Cranage earnings, La Boca.........--- 57, 106. 72 19, 249. 09 SOO bs OF eck ae ees
Storage and freight handling. Beenie 50, 630. 42 13,823. 15 30; SOUS 2 (lee eee
MOL OTA Ns ane eee ore see oe Ses 3, 541. 44 2, 0438. 94 1, 497.50 |... 2. (ee
SWlChiO SS 8 ack as ee eee eee LOES20 50s ooo ee 1Q A 2700s Ae oe
Miscellaneous earnings, other sources . 194, 616. 01 104, 544. 85 99 1046602 \2 Sees ose
Dotaliee secession eee 754, 090. 20: 503, 018. 92 Aol OVVE28 22 yee
Total railroad earnings......-.-...- 3, 638, 900. 21 2,570, 828. 03 106807218. (one ee
Steamship line:
UPC STG a ee eee 945, 172. 69 848, 564. 29 96; 6082405 |= See
PASSCN PIS iio eee 394, 388. 26 316, 258. 10 13, FOOT Ge lee i
Mou Si eee en ee i eee 192, 334. 21 156, 134. 76 30-1997 4bs| es eee
IRERCT AED ASL AGO se oe een ee 2, 247. 15 2, 700002) ee eee 509. 37
PULCUSUTOR he ate Souls tee oe ee ae 13, 675. 54 12; 096. 73 Le O78 Sse cee
Wines and liquors=. 2.0 9, 006. 42 te 018. 20 198822015 eee
Miscellaneous: oss. oe ss ce ee Gee 4,086. 21 } A USS. OO ns seme oon ee eee 97. 44
Roba eee a ee ee 1, 560, 910. 48 1, 347, 012. 25 213; 898: 23 | See eee
Grand total earings. .....-2:....- 5, 199, 810. 69 3, 917, 840. 28 Le28h, 970241 gh se eee
Railroad operating expenses:
General expenses, New York....-..-..- 3,119. 50 SoPATOPD he eae es 2, 350. 65
General expenses on Isthmus.....-..-- 86, 414.13 69, 996. 89 LOGAN DAS | eee ese
Conducting transportation. .........-- 1, 008, 614. 69 914, 647. 85 93° 9602843 | ee
Maintenance of equipment.........--- 332, 958. 13 138, 557. 51 194, 400. 62 |2....-.2 2.2.
Maintenance of way and structures. ... 440, 944. 07 344, 088.15 96; 8502902 ee
ighterages |<. en see 117, 349. 74 123 04062712 le ao cere one 6, 295. 53
Docks and wharves, maintenance..... 57, 816. 33 56, 016. 06 80052 (a5 ee ees
Real estate expenses .................- 16, 737.99 11, 340. 54 5,390.40 A ear
Loading and discharging vessels at le
1701S OC Riess ee i eee 94,572.19 | = 18, 126.138 16446206222 ee ,
Total railroad expenses -.-.2....-..- | =. 2, 208, 526. 77 1, 731, 888. 55 416 ,638:..22.4|52 ee we
Steamship line: =
General expenses, New York.......... 24,149.76 QOS OVS aD cle ee ee 4, 863. 39
General expenses, Isthmus..........-. 39, 068. 84 36, 015. 43 3; 0038s 414 |2 5. ee
Steamer expenses. ...5.-.-..-..-.----- 1,101, 106. 98 1, 069, 630. 98 IAT OCOSS eee ee
ACP CNC VsOXPCNSCSe = 25 cc See 133, 062. 00 127, 831. 09 0,200 Ole eee
Cliarter: Osteamens= 6 ae es 104, 960. 00 E21 O98 teen ee eases 16, 719. 81
Total steamship expenses.......---- 1, 402, 347. 53 1, 384, 170. 46 LST Olea ree aes
Grand total expenses.............-. 3, 610. 874. 30 3, 116, 059. 01 AQ4 SU52 29) |e eee





Se ee ee



22

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Dasma C: Statement of earnings and expenses for the years ending June 80, 1907
and 1906—Continued.



SUMMARY.
Earnings. 1907. 1906. Increase.
Railroad earnings:
‘Colon to Banana. .asc 2 oo. $1, 934, 438.38 | $1,395, 818. 80 $538, 619. 58
‘(Panama -to: Colon. 526 3a ees ee 950, 371. 63 671, 990. 31 278, 381. 32
MiIScellancOUS@ Sore odes sc ones eee 754, 090. 20 503, 018. 92 251, 071. 28
Total railroad earnings............. 3, 638, 900. 21 2,570, 828. 03 1, 068, 072. 18
Total railroad expenses.,...-..--..- 2, 208, 526. 77 1 731, 888. 55 476, 638. 22
INeteamming soos. Sees. ee 1, 430, 373. 44 838, 939. 48 591, 433. 96
Per cent of expenses to earnings...... 60. 69 SSOUiO tse ox wees ee eee
Steamship lines:
MolAGesTnIM GS: seo oN es Ser 1, 560, 910. 48 1, 347, 012. 25 213, 898. 23
MOtalLexpensesias. 5-2. Se ee ee 1, 402, 347. 53 1, 384, 170. 46 18, 177. 07
INCUCATTING Soo or eee 158, 562. 95 @ 37, 158. 21 195, 721. 16
Per cent of expenses to earnings...... 89. 84 1OZR7OS Ree ae oe
Grand total earnings...............- 5, 199,810.69 | 3, 917,840.28 | 1,281,970. 41
Grand total expenses. .............- 3, 610, 874. 30 3, 116, 059. 01 494, 815. 29
Hotalnet earmnese. oo. sae eee 1, 588, 936. 39 801, 781. 27 787, 155. 12
Per cent of expenses to earnings ...... 69. 44 [QE OAS Bees ease ee



a Deficit.





Decrease.

commen mee wee
core new eens

eee ee twee ew we

wer wen wwe eee

Se

wwe en eee www ee
er
eee ee w ww ewe
eee eww wm wwe

Exursir D.—Statement of operating expenses of railroad for the years ending June 30,

General expenses New York:
Advertising—
Folders and posters.........-
Generale eee. hae sees

Directors’ and committees’ fees. .
General offices—

Repairs and=rent Ol: 2-5

Other, expenses... -.-......22.
incidentals 3
Legal services and expenses......
Ofticerss Salaries Of. 2
Stationery Bn Gsprinbinescs se
Telegrams and cables.-......2-.-

General expenses Isthmus:
MOVEEUISING:: (so) eee ee
Clerks and attendants, salaries of
Cablegramis cs: 02 eee
EROSpITaleseGviCe: = 22. a oe
dncrdentalss 2s nee
eral expenses ees ese
Miscellaneous. SR Sa ee aes

1907 and 1906.

ee
i
ee ed

wee w cw cr mm mem wm mw ew eee nto ew neces eee eseces
slalsleleicieioteia sisi sielelalole(a) = alelainiaislalclaletainioinialaivie
ence rucecccwc cee wc a ceercespecsencecece =
eo clelaleterolclclsic olalele:e cle iclele clelel=| els siueipiole ele viele
slaloieloioiate cfs loicieinictelote cain clalelalnlate sialelelaisialel aia
Pwo wre sce ws www cere s ee meas e ww ereacecn ses

i

eee r nee eee eee ee ee ee ee

re
es
were ewe eer ee ee ee ew ee wee we ee eee
were ee meee wee eee wee wee ee wee eee ee ee eee
wer ere eee we we ee ee ee wow ew ee
eee ee ee em mmo me mew ee wwe wm eww eww ees eww ew woe
wee ene eee ew eee em ee we wt ww ee ee ee ew eee ew eee

Office expenses ANGESUPPIIES ese se as ts eh ects ee wae nes

Stationery and printing..........
Motal sees os eens Ss

Conducting transportation:
MOVETTISIN Det ee
Clearing witecks: 62 8 ss:
Engineers and firemen...........
Fuel for locomotives.....-......-

Colones pee eS
Imjuries-to persons... ==. 2;

Ineidentalss 2 es ea
Labor—

eee ewe meee me we we ee tee ee ee ee eee eee ee

i ey

weer eee ee me ee we ee ee te eee ee

wee ee wee we ee me ew ete ee
wee ee ee we eee ee eee
wee wwe eee eee ew eee

ween eee ee ee ee wee ee ee

i ee a ey

wee ewe eee we we ee ee eee



1907. 1906.
$459. 54 $143. 90
188.17 180. 01
22, 817. 38 18, 523. 92
4, 046. 39 4,031. 20
3, 620. 07 3,572. 41
1,568, 34 4,120. 24
3, 191. 10 5, 071. 61
14, 828, 97 16,288. 78
1, 720. 83 2, 493. 51
678, 71 1, 044. 57
53,119.50 | 55, 470.15
45, 38 55. 15
52, 866. 03 34,179. 11
1, 269. 53 1, 039. 33
6, 329. 66 10, 800. 80
3. 489, 69 719. 09
"ATT. 85 1, 153. 05
2, 854. 09 8, 497. 11
11,118. 53 9, 465. 11
2,743. 87 1, 542. 56
5, 219, 50 2,545. 58
86, 414. 13 69, 996. 89
830. 20 1, 848. 15
6, 288. 44 1, 083. 90
98, 820. 61 78, 212. 05
74, 669. 41 75, 528. 57
39, 484. 89 35, 883. 14
41, 608. 70 50, 997. 94
2,794.18 1, 562. 35
489. 32 695. 82
165, 424.38 170, 861.09
105, 998. 55 150, 882. 89



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

1907 and 1 406--Contunued.









Maintenance of equipment:

Maintenance of way and structures:

Lighterage expenses:



1907.
Conducting transportation—Continued.

i; tallows anduwastes.. =... 2.22. ER GAY eyes dae aCe Segoe ar $5, 465. 31
Other supplies LOT TOCOMOGIV ES ce 2s a ee ee 2,121. 42
FVOUTIGIOUSGsINOM 3 oe ees eee ene oe 17,719. 48
Superimntendencerand: clorkeec2s2 sas a sn ees 8, 231.71
Switehmen, yardmen, and yard*watchmen:...: 2... 5.0.2.6 65.05.2050. 126, 414. 38
Sitabionaeemtsrand: clerks oS ee gs es ee eee 78, 845. 71
Station supplies and expenses.............- See ee aie 28,071.39
Stationery and prin tinge sae a i nd es ee ee 14, 680. 87
Train conductors, baggagemen, flagmen, and brakemen..........-...- 81, 863. 21
‘Bram suppliessandsexpemsess. 02a ee ee a 28, 185. 34
Molewray ln: GxpPCMSOse se ees ea oe ae ee cee ee 51, 854. 97
Water supply for locomotives....... Gris ci Pee i eS tee cet Rm ae @ 213.97
Rien tol DHIGInNgS: CUCs seas et a ee ee es 599. 94
Loss and damage, freight. and baggage...............-.-.-.... poe ore 28, 044. 99
OUTSIC Oa POniCle sss ete rancor ee ea DO2le26

ER obec So eres eee soa se eee rst os Se ee ee 1,008, 614. 69

Breightcars, repains ands renewals:Oho: 22 cs
TnciGem tals ee re esas Gee ene
Locomotives, repams and renewals Of. . 22.25.2522 -2 02272-6222
Passenger cars, repairs and renewals OLS oe: eee ee
superintendence andclerks 2: {2.3 se eee a
NbatiONey aN OTM Osea Soe eee ee ener
SHO DICK PCNSCS =. saints Sei i ee ew ee ee Le i ee
Shop machinery and tools, repairs and ene ae Ole ae
Work-ears, repairs and Tonowaleol = ee

Bridges and culverts, repairs and- renewals of...................-.-.-.-.
General otices, repairs*and: renewals Ofoc. 222-22 2.2. oe
Ienerd embellish cet ao eer Stee ieee
Machinery and tools, repairs and renewals of.................-.....---
Ralls:srenewakOlis soon se es eee Co a ee ee eee
Roadway andstrack Tepalts: Ole sss ss oe ee a eee
Road crossings, signs, and cattle guards, repairs a renewals of.....
Superintendence DINE CLOTS Se acess a a er cea
SWilChes ANdstnOSs “TENE Waals: Okas occ oe i ee ey,
Spikes and rail fastenings, TOTIOW AIS iO leceic cae oe = eee eal ec eee
Station buildings, repairs.and renewals of...................--.-------
Shop buildings, water and fuel stations, repairs and renewals of......
Stationery and SPOT G UN ee ee eee nee
Section houses, tool houses, etc., repairs and renewals of.............-
Ties, renewals OR ee ee
Telegraph, repairs and renewals Of22 2.52. 2 ee Se Sia age
Weeds, brushi-orass;etc. Temoval Ola... 2. 2
Repairs roadway andstrack< OUNGr Material. co. se ee
BniDlo yee S quarters, buildings and furniture, repairs and renewals...

TIS UNAM COR sept eee eee ee A ee ens eee es



uel ends waters eS ee i ee gee ae 6, 785. 76 7, 154.54
FVOSpibalisGnviCles sc oa i eae eae ee aoe 25008 |S neta
aTry CL CH erat yl Seer Sree ee ae Ce core ear eee 62. 44 1, 927. 39
a bOT ON CAangOss oss es ee SEG a Ge eee Oy ens bigs 12, 366. 25 49, 068. 0%
inabor omcargodslade Na@OSst 2:20.25 i. ae ee ee ee | eee
igshters; repairs and TrenewalsiOle..22 50.6226 ae a eee 14, 378. 85 11, 539. 16:
Other lighterage equipment, repairs and renewals of. ...2..-.-..-3.... 476. 62 i. 924. 04
SUL YD CS aaa a ie ee eee A Been ee tee, ae 8, 354. 94 is , 8712. 96.
Superintendencerand: clerks =.= ise ee 3, 272. 60 3, 144. 05,
SU SISECNCe SUP Sie: eee ee ee ee ee 2, 401. 47 |- 3,299. 95.
Subsistence; laborers; Isla de: Naos-. 2.02.) ee ee
Tugs, repairs and renewalsot 6, 1383. 96 3, 740. 76
Expenses: while OUG OL COMMISSION 2: ico oe - 4,95 "315, 38
Wid SERIO CIO W. Sees Sook a es ne eee ee ee eae 28, 048. 55 15,061. 77
Wepreciation of tues and lighters: 2.22 35, 066. 35 ~ 17, 997. 18
EIN Geli) eee ON es ore ee i SNE MN, 349. 74 123, 645. 25
Docks and wharves, maintenance:
Repainsanderone walls Ole. st ee ae ee Oe ee 52, 369. 35 54, 680. 26
MS urg nN CO sees ee Be a eae ee Ge eee Se O2SE BBs ee es
Pight-house and sharbomexpense.s<.. 5 e Se 2, 423.15 1, 335. 86.
FR OU NS OO a ape ie Olea aR ne en Be Oe 57, 816. 33 56, O16. 06, 06:

108, 762. 79
3,004. 18
83, 089. 95
33, 152.32
16, 787. 43
899. 5S

29, 363. 54
28, 417. 94
29, 480. 40

302, 958. 13

15, 378. 55
5, 167.74
967. 42
6, 456. 22
22) 844. 97
180, 187. 61
1, 527.55
13, 910. 60
7, 657. 30
16, 850. 41
36, 123. 87
16, 753. 28
1, 907. 27
495.54
29, 844. 52
18, 781. 59
4, 289.00
15, 974. 7
44° 081.73
1, 814. 13

440, 944. 07



98,

Exuipit D.—Statement of operating expenses of ratlroad for the years ending June 30,

1906-

$4, 208. 25.
2, 668. 9F
22, 009. 30:
6, 187. 91
101, 292. 26:
43,919. 26°
33, 048. 39
13, 264. 65:
59, 584. 8G:
13, 540. 96
24, 967. 46:
6, 150. 68:
TTF
11,349. 7B
4, 887. 64

914, 647. 8&

43, 720. 64

48, 276. 79
14, 137.88
11 824.86

457.17
2, 754. 82
9,964. 72
4, 420. 64

—_—

138, 557. 5X

25,119. 40
4’ 091. 83
2, 499. 97
3, 931. 95

30, 620. 04

63, 025. 98

216. 87
2, 406. 90

7,229. 18

14, 264, 42

44° 364. 75

14; 643. 87
1, 438. 06

497. 32

23, 728. 44

56, 528. 97
2, 409. 69°
4,038. 72

43, 108. 86.

a

344, 088. 15







24 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Exurpit D.—Statement of operating expenses of railroad for the years ending June 30,
1907 and 1906—Continued.



1907. 1906.

Real estate expenses: | :
Buildings repairs and renewals of. 2.2232 ee BARS So a Gil BOOL8S. | acca cose as
SSNS UE ATS CO ee se St ee eRe ent Oe ee EEN Al 2 Se a
begalandrotherexpenses. <=: os Soe See ee en ee 18, 048. 35 - $11, 125. 70
Water supplied to company’s buildings........................ eS esoapaios 4.80 214. 84
Motel 2 16, 737. 99 11, 340. 54
Loading and discharging vessels: —
Cranes—Supplies....... Boa ce re ee ea ae OES Cae ae Ce eg 20, 805. 41 3, 630. 39
RCP Ais ANG TONGWHIS ssn ce es ee ee ee 18, 468. 11 2, 803. 17
Opera bons esas See eee ee 52, 248. 94 11, 692. 57
BETIS UREN Cees eS ee ee ee ee ee JA CA20 Gee See Ne
Supermtendencerand-clerks 23. jNsse- tee eG ee ee 1S TLROSE See cee
Othermsup plies andsexpensess.. oS ee cee 1S Soledad eee eee ee
Mota] Ss ee oe ee ee Seer ese 94,572. 19 18, 126. 13





a Credit.

Exursir E.—Statement of operating expenses of steamship line for the years ending June
30, 1907 and 1906. :











1907. 1906.
General expenses New York:
Advertising—
HOLMErS: ANG POSLOLS =<. ce ee ee ee Sais meee $217. 37 $68. 81
General Sa ei oe eo ee wise Goeaue ee 95. 96 103. 89
Clerks salonies*Ols a. oo ees ee ee ee Po oe es 10; 321. 72 9,679. 37
Directors’ and-commiuttees” fees. 2.5. os. 2 os soe ete Seas Saree wie ae eis | ana ermine SS | eines eee See cies
General offices—
Repairsrandstent Ole ooo eee es RE eae a oe ee 1,834. 61 2,112. 08
OtHewexpPeCuSesss =. sss. eee ee te seein See 1,619. 85 1,847. 00
SNC TC CNG RLS ear se ee es ae erates Sse ia ie cbs CE SO BS oe eS 727. 78 2,067. 55
Wega servicestanG: CXPCNSES oo ee es fe ee ere 1,380. 13 2,626. 47
Ouiticend salaries Ole: 25 5 eS oe ee ee ee aes 6,821. 03 8, 627. 78
HEAUONO Ys aNG spl GING ase SF See ce ee ee eee oe 8 799. 37 1,317. 39
Releprams and Caples. <. 2 s e e eee ae Be eco 331. 94 562. 81
ETN OG eee ee ee i ee ee eee is 24,149. 76 29,013. 15
General expenses Isthmus:
ENGVOCbISIN Gee ace See ea oo ieee ie is oa en 18. 87 21.42:
Clerks-andenthendants -salatios OLS. 22... 2s eee res 23,828. 95 17, 595. 57
CableoraimSs asses ee ea eee Sues ee ere es ee 550. 26 522. 58
SELOSPLLAESClVAC Cree re ee ee es See ee 3, 083. 35 5,701. 32
Imcidentals: 925-32 Be SSE ec ns ree eae eee ee 1, 459, 22 331. 16
Weal expensese. e225 = BSc ue a eee ee eee SS eoee eee: 226. 69 612. 55
IMnSCCH AI COU Sie oe bee Serene es ee ee Scien ees 1, 315. 39 4,176. 47
OsnCOrs=calaries:Of S722. ete: Poco ee ovece ety ene ee eee 5, 058. 84 4,889. 95
Office expensesrand=supPHCS==a Ss oe ee emer woes 1, 168. 65 810. 19
SeAblonerysanMG Trin bin Pees se ee ee ee a ee ee ee 2, 358. 62 1, 347. 92
EO eal eee ee ete oe eur ee neties sc ee ee 39, 068. 84 36, 015. 43
Agency expenses:
ENV CLUISIN STEN OWS ADOLS is cs ee ee eee ae ee ee eee 3, 536. 46 3, 109. 69
Buildings, docks and wharves—
HVC WAU Saa MC eT OM beOle ns cee ee ee ne ee ee 40, 468. 77 AT, 962. 17
Othermexpensesac = oe ee ee ea eS se 12, 407. 65 6, 269. 65 |
ComuamissigncispaSSCUPOLS ms ss ce ee 1,173. 32 1,190. 85
SUTRA C Oc pe eee ees os eee eee 1, 447. 62 1, 158. 00
imjumies:FOspersOnS:--- => ss Maree SS LSS op pe cee ee Seria ees ee ne ae 135. 00
incidentals ees Se ee ee os oe Se ee 50. 00 60.
Wubor Cenerale a8 3s ao ee ee eee so oes oe eee 20, 984. 75 19, 032. 90
Legal services: and expenses - = -..-...... 22.2 Piaisyas in a. eects Some nme 147. 10 4, 50
NUDE SSS sai Cl ER TAN SR eae cs se RG rape eg ee 145. 73 38. 14
NalaniesOlagents and-clerkS= 2) 22 see oe ne See See 46, 513. 67 41,497. 64
Stabioneryand pmnpine 2 2. ee Sees ae Se ee neers ee 2,279. 89 2, 665. 71
MNelesrame:ana=Ca less Saas he ee ee ee ee 311. 00 302. 69
Max6s 0525. SE ee ee ene ee eee ns eee ee See eae 1, 200. 00 1, 200. 00
OQublside agencies = ee eee 2, 396. 04 2, 604. 15
AUS Gea ye ee ee ee en 133, 062. 00 127, 831. 09



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

29

Exuisir E.—Statement of operating expenses of steamship line for the years ending -

June 30, 1907 and 1906—Continued.



1907.
Steamer expenses: :
Custom-house andsport.Charges = 22525 25 2 oe ee So oees $13, 004. 98
SID) © CRY saa wa a I ee ee yas ers aoe 2, 021. 08
Hguipment, deck department=2. 2.22.2. ee ee ee - 10,395. 97
Equipment and spare machinery, engineer’s department......-...... 6, 878. 95
Equipment, commissary department Seine Rose Ae eee ere Re Ge 20, 453. 98
SIGs eres ee ee SNe a a a eaters eee che emote 194, 050. 66
Feeding passengers:and: Cre wesc sos So ase 141, 534. 89
PNGIMOMUHISE cece ees ee ee es cS ee en as hee ee hs eee 5, 339. 49
EnjuTiCS VO. PeCLSONS 5522 Se eae es ee a a ee 145. 83
NES OLIONE CALE Os Sie eae ae ee rae en ae pene on 187, 643. 44
TE ADOMONeCORL. = se ee ree ee ee ec ee as ene see ee 28, 019. 24
AZAD OT: OLE SILOS eo es Seer eee ee eer ae aie Re eaten 936. 25
OSsandsdaimaee: 2.22 5228 Se ae as Pa Ss 11, 119. 26
OilsanG= wastes eae ae es ae ee ee en 4, 360. 38
Painting ships; DOU Ome sae es os ee ee ee 3, 164. 70
Pilotascrand vO Waren cee oe se es ee ee eee ae eee 14, 323. 99
QuUaTaANtING 223s eee RS iI eee Rae pence Ei Dene eee ere 911. 00
Repairs seck depatl Men ts: ss 4 5s ee ee 26, 259. 58
Depreciation and extraordinary repairs, deck department............. 23, 870. 00
ICpairs, Gnpine-Cepanumemt na 52 Depreciation and extraordinary repairs, engine department........... 11, 935. 00
Repairs,commiussary deparvimenG..=-s2-.- 6 22 oe ee 16, 127. 96
Stores—Deck department ses 5 cso ie es eae Be a See 18, 277. 45
Bngine department 23s aes sae er Sake es eee ee eee ee 10, 223. 44
Commissary department Sasso es ee eee 6, 165. 91
Surgeon’s departtiten tacos ei ss ee 648. 56
Stacionery, and prin Vines ee ee ee eee 1, 323. 59
(Relegrams ands Gales secs Se ee ae Se ee 4,344. 04
VEE OS ei aaa ern goin een rs cena cre Smears Spee one STE 207, 869. 75
Wailer Sse Bes Saas Ss SEO RE os Sa See a 16, 583. 30
Wisi SI eee rae Ge erin a pe a Ra oe Sn a care ee ne ere 6, 771. 33
BUST SUNT STC Ce a a pe a Ee aD act a meee a me ae pe 56, 484. 86
WO UALS ees ee Sane Pe Peat Ore oe Go ew oS ae me wae ee nas 1, 101, 106. 98
ChanterOr Steamers ese ar Ae ee ete 104, 960. 00
Grey GLE 0 teh eco ee Se een cee ssi en eee 1, 402,347.53 |



1906.

$12, 486. 50

?
170, 552. 06
126, 253. 58
4,905. 98
"196. 00
202, 023. 40

205, 994. 17
23/665. 58
6, 548. 18
57, 846. 83

1, 069, 630. 98

121, 679. 81

1,384, 170. 46

Exursir F.—Statement of expenditures for improvements and construction for the year

ending June 30, 1907.

Locomotive and car equipment:
NT OCOMOLIVES 223 oo 2 ee eee ns nee mies TAN
IRAaSSCNe er ANGs DAL eAGe-CAlS see ee i re ey ee eee ee
OR CHES ope ee re eo iS a ee a eee
OBIE CERT hawt aa nt ames re en
IVAN SeCaTs (Ors ADOTOLS 32ers os ee eee ee ee eee
SW-TOCKIN GPCrAN Os aera ee ee ta ee es ee eee
Roger-ballast:Cars 22625 22 2s ee ee Se ee sn Ne a ae
TORSO POWs CHM Se aaa En oe een nye
DU OCKE GAS Sess em ey re race Se ee eee

Buildings and other structures:
Completed—

Duplicateeclectric:hght-p, amt;-Colon c=
Lmprovement tO pletNO-4, COONS. n. cc ces es eee
Colored laborers: quarters, ©ristobalio.. -.-- 222-2).
=Mechanics:quarters, Cristopal- =... .s2.c2-- = -- + 2. Risen ere
lim provement-ota=BOCAEDIOR icc s =.
Panama coke UATLClS = WasbOChasccs = coo Sore as oe ee ee ne
Hamibyequarbers CtistODale <2). 56 oes: ee ae en ee 5
Axtensionol ©ristopal CoOmMISSaty.« 23-625 ee a
Wiaterotavion: Cristobalyatdccsso2c 96 5 es oe ee

New station—
Ta Sc BSCa CaS er i ee ee ee eee
AIS SUS ODDS 1D Oo aca ee
Culebige a3 BED may Sere eas ree ae pee ep neater

GOTLON Gees eee ee noes ee ees Shna e oeee eee
Cristo Dale es ee ee ees ee ence
ING WwapUulpsstations=ErijOlOS=e22 4 ass tee soe ee eee
Brown hoist coal plant
Installation 5-ton ice plant in temporary cold storage plant..-....-. =
INewapalnGshop: Cristo balecas: = 32s. or eee

eee ee ee ew wee eee ee eee te ee eee eee

ING WIMechamicCs: (UATUCES=. <26.-0 sss se es ee ee eee

Stock yards—
Gorgona and= Minden ee ee ee ee
HN Pires 2. ss ae SS eee ci ae a eee

$98. 34.

774, 05
518, 496. 74
16, 082. 48
2, 204. 58
92. 00

156, 935. 10
2,754. 45

12, 664.99



13, 126. 62
8, 968. 06

816. 85
1, 086. 44

$710,102. 78



96 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

'

Exuipit F.—Statement of ie for improvements and construction for the year

ending June 80, 1907—Continued.

Buildings and other structures—Continued.
Completed—Continued.
Residence; quarantine Oficere soe = es a ee oe
Office building; Colones ee ee

Pipe line, dock 14 to water Tanke Cristobalesnce ss. cote ee ee ek
Enlarging Station: “Tabernill as sak as rs een nero. Ss
Section and tool house—

HillinesShaler Park: Colon. 2.23.2. senesced Sitcoms Marne
aborers: quarters’:dock 4 Colon so: a3. oo oe es
Mom porsny-renmigcera tine plant. COLON. 22 os SL ice sae Se eee
Uncompleted—
Coal Chuler cee see arene ea ee eens Een rartoe ee wee oes
Cinder prbCristobalsyardes.5 soso et ee ea
PurmgablesCristobal yard a) see ce ee os See See oe os ceca
Heine house sCristObal-yard=. ess SS ee ee
Permanent rer cera ting plant == .c8 se ce eee ee ee ees eee
Laundry at Cristobal -
Bakes Ge CTISCOD Gna Sta es eee, Bee came eer ee eas ep ye
HMIeCETICCrANeS ba BOCA What ose. eee oe
Duplicate electric light and power plant, La Boca..................-
ING w- coal: dock -hasB OCR Sik eee oe So a ee aera ee
New station—
MioiGe Gini esis ses 2 oo Ss ee een eS Ge Tea mS cnt eevee
POGOe MAR UC ee cee eae eR eg eee
Ga GT eas ae ee ree ins eno GOR oe yr See
Two newalamily.quarters, Cristobal. —. 9. - cose ate ee
Extension commissary warehouse, Cristobal...................-....-
INGWe relight MOUSE; SBaMPITOs eo rer ae ee eR Secs Seer Reems
Water station Pedro Miguel =<. ose eee es
Waaterstation= Matacbinae: 2 22 iss) Sa Sees ee eee be ee
Section and tool WOUSE; GOrPON Aes aks ose eee ee ee ae
DECELONENOUSe Ga GUTS oes eee ee te eae eee ee eee
OeCCULON: AN G=bOOLNOUSC: -rPANAM aces oho ee oe a a
Addition to new storehouse, Cristobal shops._..........-......-....-
Boilernouses Cristobal:shops:: 26 sss 2 ee eae oe ee ae i ee
Purchase and repairs 4 houses, Fox River. ..............-...2.....--
Extension oil house, Cristobal ee
TRrOWSUTe svat ae OCR oe Se Sees Soci scree eke wee SS
Dry kiln and pattern room, Cristobal -ShOPSs-ssse.5 os. sooo ee swe
TR OUSGZO MER OX EUIVObs tees ees ee re eer ts ae ene oe
Poalonsioms whet iN O.°4; COLON Sao. oe aes ce oe Se ie te es
Water-closet, Cristobal cold storage plant Eos an eee eae
Material store, Mount Hope oie svar crSee Sis cts Gein ees es ous Cea

Floating equipment:
Completed—
ew refrigerating plants, S.S. Finance and 8. 8. Advance.........-.-
Uncompleted—
INewelieitenseat: COON = ease sce ee ea
Re DUM ma pe SS. ALA CO hs ee

New sidings and yards:
Completed—
New yard—
WA BOCA She sese ree See Sine ets Sas eos an ene es dee ere eee 3

Passing track—
aap Cees oe ea Se ae he tee Went aman eter ayer oem cee
GOP OMA ese ois Pan ae oes SES i Re ae ee eS
Newasidingzand: cross-over; Bas ODISp0= =222 <2 222s o 2
Cross-overs, Gatun to Banaiia- 9 8 se) ee ee

New sidings, Ra Dern aes ese Se ae se mo ae eo ergs

WOR ERA KSC OCA ea 2 eee eee rig eS ee pe a ic ote, aN
ASSine track; COLOZal= 2s. 22 see ORS SOioa Re SSS Re en eae ee pene
Mainline drack.WaBoca-y tOsUnChION Mc 22 5S ee ee
SPUT track GOTsONa Sos oe ee ees oe eee ee
Track to new freight house, Empire-........-::::..:-2 Sea ae secs se
ENGW. DOUSE Cracks 2B OHIO ss ee eae ee Sesion neers Bee
Lumber yard tracks to serve dry kiln, Cristobal shops..-.-...-.....
_ Uncompleted—
New yard, Cristobal...... Sa a Eee > coi eR eka re re Se aS
Track to serve new coal dock, La Boca wharf............-..----...--
Storage yard, dock 11, Cristobal. a ERS Leet Oh ed a iene eee
Storage track, Gorgona So Fe Res gn CONE UE Ue See EUR eC cee
RNTeCCICTOSS-OVELS ely aicls OCA seers 5 ee ae ee pe et en
Extension, Mamei DASSINPAOTaACks Sess Sore See ae ee
Two new tracks east of freight house, Colon.............-: Sees Ns
New, delivery track. Culebra) ies 2 2 eos an oo Se ee
ING w2hbousestrack« “RedrosMioueli s s e ee
Passings tracks B ONTO 2258 2a oe et ee ee bas ema oe
Tracks and cross-overs, Matachin...........- ee DEN trator ee Ege e

1, 383. 55

@

$6, 134. 41
33, 975. 82
5, 552. 36

588. 90

* 1,558. 35

961. 68
972. 63
942. 78
723. 02
2, 675. 42
5, 598. 76
27.54

9, 545; 02
8, 686. 42

50. 25
17, 997. 76

258, 142.72

19, 786. 47
34, 919. 45
30, 876. 82
79, 466. 20
9, 285. 97

4, 562. 32

IG 229, 57

34,315. 07

42, 674. 46
2, 826. 26

52, 149. 41
10, 507. 91

7, 929. 85
6, 886. 51
5, 576. 69
21, 651. 86
8, 165. 08
7, 930. 70
6, 256. 07
26,727.74
1, 874. 86
4, 435. 40
2, 363. 27
1, 456. 62

$829, 303. 41

81, 199. 34



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. o%

Exutpir F'.—Statement of expenditures for wmprovements and construction for the year

ending June 80, 1907—Continued.

New sidings and yards—Continued.
Raissinguirack: shind@les = she oe eer Aen otal Gite $3, 129. 64







a ANNUINSS Un TSNE AK ASEAN TRIN 2 ere ee ena ue 5, 205. 34
PANS p WATE HC TISLODN) eS as Be ea 6, 301. 06
Commissary and delivery tracks, Bas Obispo... . 22. 22... Seay epee 6, 597. 00
ING Ww housestiack, AnhorcasWacarvOn=. 222. ee oer ee ee ae 2, 784. 85
Industrialttrack -Panamae oso. ee es oe Pe Be ee ee ee 434. 93
New paselne track, GOTROM Bree eet pe a ere eo eee 3, 822. 75
New house track and team track, W788: CASCACAS ee eee eee eee es 7, 741. 94
S2SiGiNG Se OM PEM soe oo beet ee ere ee RT pent tetra ey Or oye 2, 188. 59
PUATLONSiGiNG. aNd CLOSS-OVEL,. HIM PING a2 52. : a ee 6,877.91
OTOSS=OVC Ts Ge GU se es eh I oe te ee avec g ee ee ee 781. 53
INewssid inorand.CUrnOUl GOUuUl: -s.25 2 cme) ca ee a 128. 05
Buline’space between-la- boca branch = 202-5 ee 3, 025. 00
UE Oh
New machinery and appliances:
Completed—
A Cranes a0, Wa sbOCA Plele = cascade eos cer ee eno 6.10
Cantilever cranes. teehee nee me tc er ae ene ener nie 60. 38
100=tomtrack-scale Cristopalward’2c sc. ee ee 3, 965. 63
Crossingvgates, :Cnistopalecs. os. oo 2 ses ee es Sees es 1, O82. 69
Unecompleted—
DitechingsmMa chine ee ses Se See ee ee eae ne ee 1,574. 66
20 Semaphore Siow a issss oo. es sees Oe ee eyes 6, 768. 80
oe 13, 457. 26
Less credits for receipts on property sold, accounts written off, and 2, 040, 849. 41
other adjustments:
Proceeds irom: salelstwO NOUSCS: 3. -. a. ea os ee ec z 250. 00
Adjustments— : g
ocomotive and:cax equipments... 5.222222 eee $2, 380. 76
Newsmachinery: and: applianees=. 2.2 22 ose ee 431. 35
Buildings: and: other structures: =o. 222-22. 25, 389. 21
ING WaSidIN eS and: yards se as ee Sjoerd
—- 29, 412. 66
— ——— 29, 662. 66
Grand GOG ase Se a a ea aus ase aie nae aeoa eee 2,011, 18. 756

EXHIBIT G.—Equipment and plant replacement accounts, June 30, 1907.









Amount.
SESE Cay Ss zt
Locomotive and car equipment:
10: DOK COLO eetss ee Rs eet: are See Hee ee a a a en cr me $37, 558. 00
Go Bt COM Sete ce ce ee ea a eee ee ee es 11, 415. 00
34 COAL CAIs sc2-2 2s sa: Pees seine a SNe Cee ieee UE Cte mire Cam er eee 6, 460. 00
DiS VOCISCATS Arteta oes Hee See es eer ae eee store ope aie g a gn clue ae ear a] 440. 00
ZeWAvOL CAG sons. esc BES apatas oye Tame era aoe ar is CO Capen le sace inate Veta 580. 00
LDAP Pao er Car er Sere eer Sao es Pan eae ie Se ern a eimaat 1, 800. 00
IPOXPICSS COTS ee ee ces eee Wear ee 280. 00
ICA DOOSC COE Ss a ae eee ae Sie en ete ee eee pn 350. 00
UG anise COs ere net ee seein cee Se me nee Bee Sie as eee 290. 00
TESPOCLG; COT Hea 2 es Sis oS ore ne eee re Meee ras 380. 00
, value. Rate. Period. Amount.
Floating equipment:
Seer Allianca es a=. 8: $154, 152. 97 Prior Jan. 1, 1906. $935. 83
be: Alliance. 23.2.5: 154, 152.97 | 6 per cent ...| 18 months ..| 18,873.86
Se-Os -Minance 2.022 2: | 221, 41039 0\oeee Os. esas dora: 19, 926. 90
Sos: Advances: 221, 186302 =.= dO. Sees dO. 19, 906. 74
Bugs Olivia eas =. oo 70, 001. 78 Prior Jan. 1, 1906. 10, 755. 12
Muss Olivia e224 70,001.78 | 10 per cent..| 18 thonths..| 10, 500. 29
us Cristobal. <= ST 942 bse do. Hs do 8, 691.31
- Lighters at Panama..| 162,999.49 |..... dos sees (OKO es 24, 449. 94
Lighters at Colon....| 125, 422.94 |..... donses=: | 6 monies -|. 95,971.99
Plants: |
At Colon and Cristo- .
bal—
Ice making...... -.| 17,018. 47 | 6 per cent...| 18 months...| 1,361.12
Cold storage... .. S0S2ea4 eas 2 OOen sce. 11 months .. 163. 24
Refrigerating. .... 260193873: |faaes OKO eet 2months..:| 2,553.65
IB AKeLycsce ee oe 34, 497.32 |....- Osea: GOs 343. 92
Maundy 2.5. 23,054.30 1ose =. Koen tes [aoe aes dO 2232. 225. 51
Electric light and | 17,397.01 | 8 per cent.... 14 months..! 1, 417.36:
power.
At La Boea, electric | 18,180.86 |..... GOs Se (3 Ios emer 1, 696. 94
light and power.
At Ancon, electriclight) 5,033.19 |..... doses ds 469. 76
| ——————|_ 8, 231. 50



Total.

—

$59, 553. 00
eee

115, 011.98

182, 796. 48

a a

~



28 REPORT BOARD DIRECTORS PANAMA RATLROAD COMPANY.

Exuipir H.—Statement of classified railroad earnings, tonnage, and passengers, Colon to
Panama, for the years ending June 30, 1907 and 1906.







FREIGHT. |
= Tonnage. = Earnings. oe
1907. — 1906. Increase 1907. 1906. Increase. | 1907. | 1906.
THROUGH. : | .
From New York....-. 112,339 | 97,525 | 14,814 | $893,843.13 | $337, 432.19 | $56, 410.94 |$3. 51 | $3. 46
From New Orleans...| 7,507 3, 429 4,078 27, 737. 97 11 950.69 | 15,787.28 | 2.18 | 3.49
From Europe..-..-.--- 126, 910 105, 710 | 21,200 443, 006. 33 387, 018.90 | 55,987.43 | 3.49 | 3.66
Notal sss ses 246,756 | 206, 664 | 40, 092 864, 587. 43 736, 401.78 | 128,185.65 | 3.50 | 3. 56
LOCAL, SSS SS SS ee |
Gommerciai ss se 84,529 | 48,159 | 41,370 282, 931. 92 171,670.18 | 111,261.74 | 3.35 | 3.98
Isthmian Canal Com-
MmissONse. 3 271,046 | 137,129 | 138,917 | 485,855.19 | 263,838. 43 | 222,016.76 | 1.79 | 1.92
Company freight..... 37, 801 | D2eO38; eal as ROSE ns Se [ocr eee ee eee
Motalo 2 393, 376 | 203, 226 | 190, 150 768, 787. 11 135, 5 508.61 | 333,278.50 | 1.95 | 2.14



Total freight...| 640, 132 | 409,890 | 230,242 | 1,633,374. 54 | 1,171,910. 29 461, 464.15 | 2.55 | 2.86















MAILS.
Weight Gods. > amine’.
= | De- LS De
1907. | 1906. Increase. Orenee. 1907. 1906. Inerease. SOTA
From New York . .| 1,242,500 | 1,047,000 | 195,500.|-....-.- $79, 623. 74 $73, 599. 48 |$6, 024.26 |-....-.--
From Europe ....- ’ 120, 983 112,013 89/0 So 9, 675. 44 9, 138. 48 5386590 |i ee
Pocal= se 150, 881 150, 873 See esl 9, 584. 47 4,037.06 | 5,547.41 |.......-
Mousses: se 1, 514, 364 | 133095 886 4). 2045 478). S223 82 98, 883. 65 | 8655.02) 12-108: Gos 2 =
TREASURE,
Value. = Harnings.
| In- De-
1907. 1906. Increase. | Decrease. | 1907. fo0e Ginaces torence.
From Newry ork . .|$1, 700, 990. 00 $1, S203 OS OU ee nee eee $127, 789. 00, $3, 321. 60/33, 730. 31)....---- $408. 71
drow Europe aes 2. 424° 480. 00 2. 193. 955. 00:$2305520200)2=2 2s. 3553 ap 641. 12! 8, 103 2/8iSs.- oa 462. 66
ocal:
Commercial. ....- 164, 680. 00 29, 500. 00} 135,180. 00)........-- Ala 247202 62. 00; $185. 02).....-.-
Estumign: Canal |- 2.22 1393500500 Rosa eae 189, 500. 00) Seine 194. 0 [ere =a 00
ROtglies 2 4,290, 150. 00) 4, 241, 734. 00! 48, “16. OOS eee { 209. 7412, 090. 09|.......- 880. 35
| |
EXPRESS
Weight (pounds):
ocal commercial—
GO Ae a a asa oc Se see meee Se panies Wo bee eeeeenS 61, 028
ENCNORSOre hee Soe eee ee ee st ee peo ate ope as ee aa 61, 028
Earnings:
I Tres ee cre nen ee re eres Shc ieee ns en ae ee $367. 56
INCTOASCS oes ies ee Sa SS Riparian ar at ge $367. 56
BAGGAGE.
Weight (pounds). : Earnings.
& De- | De-
1907. 1906. TRCLea ee: OTodse: 1907. 1906. Increase. Croan:
From New York..... 87, 433 TAQ SS 2855 ee coe 53, 095 $850.41 | $1,521.19 |.......... $670.78
From Europe.....--- 117, 120 93, 076 24,044 |........ 2,342.40 | 1,887.45 | $454.95 |........
WUOCANS Sake sees 954, 811 O94 DAT aoe 39, 4386 Wie 138.822 2143872004 2; (oleS2 =

1

Totals = 115086411227, 8pl |e 68, 487 | 20,331.63 | 17,795.64 | 2,535.99 |........



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 29

Exnisit H.—Statement of alescincd railroad earnings, tonnage, and passengers, Colon
to Panama, for the years ending June 30, 1907 and HOU Je aster

PASSENGERS.
Number. : Earnings.
1907 1006. |Increase.| 2®& | 1907 1906 cree, De

; Si *| crease. : : " | crease.

From New York: |
First class... -- 3, 597 3, 083 514 |...-..-.| $10,930.42 | $9,324. 10 $1, 6062.32 eee
Second class... 326 AOE eee 84 1, 443. 37 MOO OU ee ee - $345. 60

From Europe:

First class....- 747 713 Oa ore 4, 521. 60 AGL 2o aloe ae | 95. 62
: pecond class... 455 415 AQ ei os 1, 772, 22 ie S59°49: ee ee (Sh 2d

ocal: :
First class...-. 166, 444 60,976 |. 105,468 |.....-.. + 72,765.75 | 36,646. 24 | 36,119. 51 |....._.-
Second class...| 289,815 165, 105 QA LOR foes ee 78, 837. 90 53, 017. 64 20;.620:20, 2. nee
Totale:.. % 461,384 | 230,702 | 230,682 |........ 170, 271. 26 | 107,247.66 | 68,023. 60 | eters

Statement of classified railroad earnings, tonnage and passengers, Panama to Colon, for
3 the years ending June 30, 1907 and 1906.













FREIGHT.
Tonnage. Earnings. Rats Der
1907. | 1906 In- De- 1907 1906 Increase Deareake 1907.|1906
: * lerease.icrease. : : : : :
Through—
To New York..| 64,360) 73,275)....-.-. 8, 915/$197, 597. 78)$214, 847.30).......-.-- $17, 249. 521$3.07/$2.93
To .New Or-
NOSIS epee le Le ee ee | ree er eee OD nat were O12 3.77
To Europe.....- 69, 557 58, A449) 14, M1bh oe 237, 538.14) 214, 613. 39 $22, 924.75)-..------- 3.41} 3.67
Totals... 1338, 917/131, 730) 2,187)... .. 435, 185.92) 429,510.41) = 5, 625.51). .......-- 3.25| 3.26
Loca]— oS ee ee ee ee ee ee ee
Commercial—
La Boca, Pan-
aa ae 11, 458} 9,874) 1,584)....-.. 5,668.48} 5,001.97 66625L == ee = ~OUle ol
Panama, Colon. 16, 171 12, 465 ae (06|22 56, 517.74 35, 071.05} 21, 446.69|......-.-- 3.50) 2.81
Isthmian Canal
Commission. - ‘|130, 947) 81,253) 49,694).....-.. 258, 630.39] 76,895.86) 181, 734.53)......---- 1.98) .95
Company freight - 3, (21| 20; 499). -- .--- LOTUS ee as ee ee on ee | Set een
Total........ 162, 297/124, 091) 38, 206]......- 320, 816. 61 116, 968.88) 203, 847.73)......---- 1.98| 94
Total freight. 296, 214/255, 821| 405393 Rees 2 755, 952.53) 546, 479.29) 209, 473. 24)........-- 2.55| 2.14
MAILS.
Weights (pounds). Earnings.
1907. - 1906. Increase.| Decrease. 1907. 1906. Increase.| Decrease.
To New York......| 123,723 | 100, 452 DB Deen ee $5, 969. 72 |$4, au 3 Sil o2eloe ie se
To Europe........- 5, 670 6; 826218 1, 156 599203: 222042. 08 $48. 25
ocala 7, 363 SS2045 ieee 901 810. 45 | 1, ee a See nee ge 207. 29
otal ees 136, 756 115, 542 DR GA Ve ee eeceaeuc eae 7,379. 20 | 6, 477.61 OO 59. ee
TREASURE.
Value. = Earnings.
1907 1906 Increase | Decrease.| 1907 1906 ane ee
: : : : : * jerease.| crease.
‘To New York...... $1, 295, 429. 00/$1, 273, 208. 00} $22, 231. 00).........-. $5, 172. 37|$4; 904. 50/$267. 87 Sn aeee
= PO; Europe ee rae 2) 293° 883. 00 2 807, 224, Ole ean ee $673,341.00 ie 278. 96 8, RRO Ole oS $1, 603. 19:
Loeal: :
Commercial...... 10, 605. 00 5;100200|- = 5.:505.00\e a 24. 92 RT ble Oval ee
Isthmian Canal..| 395,000. 00 20, 000. 00 375, OOO 00 nes 592. 50 5200) 087.5052

a | ap | aS | | | RT |





?

30 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Statement of classified railroad earnings, tonnage, and passengers, Panama to Colon, for
the years ending June 30, 1907 and 1906—Continued.



















: EXPRESS.
Weight (pounds):

IDyoxer Erevan ae wea ten ces C2 Se SEES SS SON I Pe Se SE LG 99, 152

PNCTeASes sss: CS SS a GN ESR a OGL GN pr Sr TS 99, 152
Earnings:
we LOOSE: Beat Sones fae ee SE eS ee ees Ue Ce WAU cn ec Ce ae ee Ger ae eee $088. 62

. -Inerease..-.- See Sa SS aS ea Se ee eee Te ec soy s ern a oot men soeiaes $588. 62
BAGGAGE. ae
Weight (pounds). Earnings.

1907. | 1906. | Decrease. 1907. 1906. Increase. | Decrease.
ae | _ | —
Mo: New-Y OV: 2522S. 16, 954 | 24, 101 | 7,147 | $329.89 $458 De es ees $123. 32
POM ULO PCS sss eos pee Sees e: 1, 500 | 1500: sees Sa SiO0S See eas 3. 60
Wocals. Ss.5 oss ase 837,093 | 908, 205 71,112 | 16,747.61 | 11,876.94 | $4,870.67 |.....2.--..

Totals 2s 05. Ses 854,047 | 933, 806 79,759 | 17,077.50 | 12,333.75 | 474315 oe
PASSENGERS. :
Number. Harnings.
. | |
1907. 1906. ae a: Decrease. | 1907. 1906. Inerease. | Decrease.
To New York:

First class.... 571 S885 eae 267 | $3,477.14 | $4,889.03 |........-.. $1, 411. 89

Second class -. 788 OLS see 125 3,409; 12-1 45.092. 052) 25. eas 5 632.93
To Europe: :

First class --. - 873 | 473 AQ so es > 4952608 23. 387.22) |, pk, OO0soo |= nee eee
= econ’. class. - 172 82 DON sees eee | 698. 66 360. 25 S884 noses eee
-Loeal: |

inst class 35.) -15284o"| 59-6974 95 148 ee 68. b47,01 | 35102 70. 138,400.31 ee

Second class. .| 265,644 | 155,525 | 110,119 |..........- 75,170. 50 | 45,060.01 | 30,110.49 |..........-

SURO ase 420,893 | 217,528 | 203,365 |........... 156, 305.03 | 92,899.26 | 63,405.77 |........-<-

| :







Exursir [.—Statement of railroad freight statistics, for the years ending June 30, 1907





7





and 1906.
1907. 1906.
GOSS Ca TINE Ser es os ea ee ee ee ee aes ae $2, 389, 327.07 | $1,718, 389. 68
Freight train mileage (including all mixed train mileage) --.............-.- 203 ,.560 169, 576
Hreishe trains perdayepermrle:ol road's 25 fies 9, 27
-Loaded freight car mileage.............:. ee een ee ele sais 2, 389, 075 2,192, 757
PTI EVetrelom uy. Cat INCA Qe. coe tee lea ee 811, 365 671, 898
Caboose Carmileage:. 452s So ee ease Sao Sere ee 244, 531 205, 318
Movalareicny car mileage; including caboose..2-2. 2-5 2. 3, 444, 971 3, 069, 973
Percentage of loaded car mileage to total freight car mileage (including
CBD OOSC) eee ee a a ee een oe ee 69. 35 71. 43
Wordedareieht Cars: per train = ee ee Dae 11.74 12. 93
PMD Uyel rele aCAatsepe lat rallnac. wos 6 Cote Se ee 3. 99 5. 96
froaded andtempbtysireishticars per trai 2 esc ee ee 15e73 16. 89
ons or hrousnecommniercial Creigiit.. 2G ke es _ 380, 672 338, 393
ous On localecommienretnlineleh tes. = ee 112, 159 65, 499
Tons of local Isthmian Canal Commission freight................... eres 401, 998 218, 383
FROUS_OL COMPA Yethelo itera eee Oe ee 41, 522 43, 485
Mons.oireventic-andscompany-ireisht. Carried. 3-6. es ee ee 936, 346 665, 710
Tons of through commercial freight carried one mile....................-.- 18, 444, 583 15, 919, 985
Tons of local commercial freight carried one mile............. Meee een are 4, 145, 521 2, 186, 005
Tons of local Isthmian Canal Commission freight carried one mile.......- 12, 750, 278 7, 242,121
Tons OL company. ircight carried one mile. == 222 1,444,943 | 1, 248, 117
- Tons of revenue and company freight carried one mile......... eine en Seen 36, 785, 325 | 26, 596, 228
Tons in each loaded car (including company freight) ................. Sees es 15. 40 Seal 3 =
Tons in each car loaded and empty (including company freight) .......... 11. 49 FEN OE 2S
Monsdnsea che trai ae Pe et ee ee 180. 71 154. 41
Harninosepertreisiigcarsperdnile =e ee fete Soe ess cents. -| 69°36 55. 97
Average miles each ton of revenue freight was carried....................- 39. 49 | 40.73
Harnines per imel sige bain esc oe ee S11. 74 | $10.14
Harnin Ss per tomiot revenue trelght. =o ee $2. 67 $2.76
Harnings perstonxVenwule seit a pe es aces cents. 6.76 6.78
Tons per revenue freight carried one mile per mile of road................. 705, 256 | 505, 849
Warnings perimileol roddec. 9 fo tess ee $47,681.84 | $34, 292. 36
stunated loaded carsimeach train... 2. 14.33 | “1559
Revenue treisht engine mileage: so. 8 ese A ie te a 205, 774 | 189, 096
Estimated loaded cars hauled per revenue freight engine.................. 14.18 | 14. 20
Tons hauled per reyenue freignt engine...................2... Peet ES sees 178. 77 140. 65



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

31

Exuisit J.—Statement of railroad passenger statistics for twelve months ending June

80, 1907 and 1906.

1907.

$495, 482. 94

Gross earnings (including mail, extra baggage, and treasure) .....-....--.-

Passenger train mileage (including all mixed train MUNCH e) ee ae eee ee 143, 871
“Passénger trains per day: per milevot road =.=... 2... 6-8 eee 7.87
Cogichsmilegige sos Ss eae ee ote ae ee isos era ay Rie Nouri e Spann re 768, 469
Baggage, express,and mail mileage. 22... <2. 22. -.22-5--¢---2- ps TE eee es 143, 944
Total PaySSeneer CaremMilSH OCs ss ee ce Ss eke ete ie a ee ns 907, 413
IPASSON LOLS CALICO Cicer ee er pe ee re ie ono ere 882, 277
Passengers carried lsmile. 2 secession ae ee 11, 254, 152
AVeragze- Gistance- cach. PassenPer CAnTICN a2 cn ce tree oe eee ee ee C 12. 76
Passengers in each passenger trains... sss Noes ree ee oe 78. 22
Passengers in each passenger car (excluding baggage, mail, and express) - -| . 14. 74
Harnines perspassenger train mules: sats eo ee eee $3. 44
Harnings per passenger car mile (including mail and express) .. ... “cents. . 54. 60
Cars in each passenger train (including baggage, mail, and express)......- 6. 31
HMarnings: Per passengers se se as ae ee a aero so cents. . - 37. 02
Harmings per passenger per mile 22 = 3 Be Gree dow ; 2. 90
Passengers mile perimile-of roads. a2 eee ee eee ee 224, 588
Harnings per mile of road......... SNE ae oe ty eA Us eapn ay Sawer cant eae $9, 887. 90



1906.

$349, 419. 43
164, 811
9. 01

594, 679
164, 208
758, 887
448, 230
6, 302, 957
14. 06

38. 24

10. 60

$2. 12

46. 04

4, 60

44, 65
3.18

125, 782
$6, 973. 04

- Exurprr K.—Statement of railroad general statistics for twelve months ending June

80, 1907 and 1906.



1907.
Average mileage operated=.:...... = ee eae Be een 50. 11
Rovalireight- and passenger carmines.<...2 5455-28 | ase ee ee $2,884,810. O1
Totalincighit-and-passenlerexpenses , 2222 aloo. Sh oe a as ee $1, 922,050. 52

Net ireiphitzandjpassengemeaimines.2 2 aeons ee a a eee

$962,759. 49
Percentage of freight and passenger expenses to freight and passenger

SRCSeL tt) mal) Wa hs ace ce eR a a te ec es Se ee a ere A ie neaion nr en er ea 66. 63
Total revenuestrain mea ee see eee i eee Ae 347, 431
Gross earnings per revenue-train mile. 22.2 2 222g sons 2 ee eee $8. 30
Operating expenses per revenue train mile....... ieee ae es BR eR a ee $5. 53
iNet earning siperTevenue per trail: stem t ee cee oe ae wee $2. 77

Potal-GrossiearMin Pesce es ee ee ee ee ee ose $3, 638 , 900. 21
MOUMIVETOSS CXPCNSCS ot Gasca sees oe ae nia See ee eee $2, 208, 526. 77
Net earnings, all sources $1, 430,373. 44

Percentage of gross expenses to gross CQIMING Se cece eee ee 60. 69
SHarnings per millecOlnOa Gi cee sot ee ies ee en eres $72,618. 24
sh XPeMSeSs pel Mule: OL LOG enka see re oe ae ee ee $44, 073. 57
Net carninegs permile Of roaGs 32 oc so5 eee ee oo $28, 544, 67



1906.

50. 11
$2,067,809. 11
1,522,760. 55
$545, 048. 56

73. 64
318, 739

$6. 43

$4.74

$1. 69

$2, 570,828. 03
$1,731,888. 55
$838 , 939. 48
67. 37
$51,303. 69
$34,561.71
$16,741. 98

Exuisit L.—Statement of railroad freight tonnage handled, years ending June 80,

1907 and 1906.

FIRST.—FROM ALL POINTS TO ALL POINTS.

1907.







1906. Increase. | Decrease.
COLON TO PANAMA.
Per cent. | Per cent.
Brom: News York tO samch LAanCISCO. cece. 2-2. 25. sec ee 26, 944 25, 914 Be Qe eee ane
From New York and New Orleans to Panama, South Pa-
citie, Central America, and Mexic0is.- 22.25.0222... ee 92, 902 75, 040 23. 80 nes aaee
From Europe to Panama, South Pacific, Central poses
Mexico, and San Francisco EI GPS as ag ae Tar eS 126,910 | 105,710 20205 sea ese
From Colon to Panama (loeal) :
Commercial freight: -.--....-- Sane: Sie eee 84, 529 43,159 | Ob Bos ee ee
Isthmian: Canal Commission... 2.22222. 271,046 | 137,129 O76 60g | Soe sec ee
Company-iveigiit es ee Poa 37,801 22,938 6480s ceecces cece
HO GRIE C ee ees os oes rere Oe ee eee emcee 640,182 | 409, 890 DO ek eles eee







32 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Exutpit L.—Statement of railroad freight tonnage handled, years ending June 30,

1907 and 1906—Continued.

1907. 1906. Increase. | Decrease.
PANAMA TO COLON:
Per cent. | Per cent.
HTOMm. San hrancisco-t0 New. Y OPK. << -2=. 302. - =. 3. ee L280 DAS OB Ts loess eae » 38.71
From South Pacific, Central America, Mexico, and Panama
GORNOWEYOL Keser es ee ae eS nee ees Oe See ee 49,075 48, 351 1 b02 | Seca eas
From South Pacific, Central America, Mexico, San Fran- :
GiSCO};;andPanama, tO -MWUTOPC.= 2 a ae ree oe ee 69, 557 58, 442 LO O23 eens aces
From Panama to Colon (local):
Commercialvireights<: = se SOS ae eet ine wate 27, 629 22, 339 23-08n| eee oe
isthmian: CanaleCommission=-=. Sos) 2 a eee 130, 947 81, 253 Gib ial eee oe
Compan yarershG as oe ee eee ee 3, 721 205 AGO: | Sree see 81.84
Total. Nee 2 ee 296,214 | 255,821 1570 ee
Total west bound and east bound...-..-....-.-.----- 936, 346 | 665, 711 | 40009 eae.



SECOND.—COUNTRIES OF ORIGIN AND DESTINATION.

COLON TO PANAMA.

MOreLanaM aes ee a eR ee ee erate te! ae 438, 696

Hon CentraloAmerican os Boe ee ee 59, 714
HOLS OUGO RE ACIICs ee ae ee ee eee eee 95, 209
MOM CaM ANCISCO ne aon ee See eee 30, 609
NOI MOKICOSS Ss ie ee ee oe ee 15, 904
DROP alee ee ees See eee reece ns 640, 132
PANAMA TO COLON
PELOMUM PANAMA an ye ea Seine Ne ameees Se eri eae 170, 084
HromeCentraleAIMerica 22. ase... ee oe oe ee 40, 286
HOM" GOULD: ROCHICs ss os 5 ey eee ee A ee 66, 741
REOM: SASH TANCISCO sca as ee eee Sen ce eee 16, 155
PET OT MOKIC Oss sere ne oe Un ae ee eee 2,948
PROUD eee ee Se a ee ee SE 296, 214
Total west bound and east bound....-....... See 936, 346





239,744 82:00 ee
61.454 ee = 2583
75,796 Ol
27, 164 (2°68 ee

5, 732 VieAGs
409, 890 H6sI7a a
137, 316 S03 864: ee

Alen7o eee | 3.1
49, 326 Bb Sit ee
Glo i ee 36.93

1,991 AR OT
255, 821 | 15570
665, 711 | A06b

Exursir M.—Statement of steamship statistics for the years ending June 30, 1907 and 1906.

FREIGHT TONNAGE
1907. 1906.

Increase. Decrease.

Ships. Tonnage Ships. Tonnage Ships. Tonnage Ships. Tonnage

“4 carried. carried.

Panama R. R. ships:



carried. carried.





ATT VCOS Ss ee 44 34, 863 38 36;0 (35 |e On lao er ele 1,810

Sailedk es ke 45 | 74,036 37 | 60, 799 Bo e303 7e le seen ae
Chartered passenger ships:

ATTIVOG sas Sess 30 24, 964 Dilee eo ng e e es | 6, 759

Salle dase ees eae 29 81, 007 28 69, 097 1 ll O1QS Sees sae ee

BOties Se Se 148 | 214,870 130 | 198,292 18 NG O83 |S ee
Total freight earnings....... $945, 172. 69 $848, 564. 29 $96; 608240. Sse as ee ee
Average rate per ton.......- 4. 40 AEDS ae eae fed ores Ae ees
PASSENGERS CARRIED.
1907. 1906. Increase. | Decrease.
‘ Passen- . Passen- . | Passen- < Passen-
Ships. gers. Ships. gers, Ships. | gers. Ships. gers,

Panama R. R. See s

Arrived... : So ee 44 BLOGs 38 2,477 6 O295 Es os ee aes

Salads: See es 45 4,202 37 3,144 8 Ll OD 8e ee eee ee
Chartered passenger ships: =

ATTriVeds == 3 eee 30 2,169 27 2,573 3 196 SS ees

Sailedie= ee 29 | 4,081 28 3,056 1 LO2bs Se ee ee

Mota 14g | 14,158 | 130 | 11,250 18 | 2,908 |. - =

Total passenger earnings....; $396,635. 41 $319,014. 62 $77 620170 — =
Average Tate per passeneetes |= 3a 20. OF eal 28 OU oc cae Secs $0. 35



28. 01 28. 36 aaa



/



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

33

Exutipit N.—Statement of locomotive and car equipment.



~

Stock on June 30, 1906

Destroyed during year
Reecived during year... 22 2)2 2s
Changed from another class.
Changed to another class. ...

Stock on June 380, 1907



Exuisir O.—Statement of floating equipment.

Name.

Steamship Allianca......
Steamship Advance......
Steamship Finance....... 2

Steamship Panama (chartered) .| 5,667
Steamship Colon (chartered) ....
’ Tug Bolivar, at Panama
Tug Cristobal, at Colon

4 freight lighters, at Panama..
1 wpe lighter, at Panama...._

eee ew em ww ee

ee

Do
3 coal lighters, at Panama

Gross
ton-
nage.

Length.) Breadth.

Depth.

Hull.

Loco- Passenger Freight i
motives cars. cars. _ Miscellaneous.

:
ax 45 3 .|O
eS q A] |]

jl] lag Eg gags
b | 4 | eS ©, | bp a} ral ISlialele
qa} ?].|8\|° gig Mele! Oo} .|/-1SlalEla].2
De eel airalics iro eas ONS elle Sem Se oie
md | OS les | 45 | fap) eo] —. - | IS! 6 bales a Olas |S ee) &
SES el Ss Be 8 SSIS isl sisisis) Sis lslgisisal2
Blnlnlal|a Qa] a S|HIA Bl SlGebla aA Amtamlals
AS) ol Slt 735 172 137 16} 1 12 2| 8| 9} dt 1} 110) 7
Sacer | oe | uate | rere ol ores ee = Oe Dipl Die DA ese a re | els rare
9| 10,.-| 4 455 12 Bl en || oD Seles Blea ia

Mee oe On| eee ea ea ‘ Seal Lh Oso OO alee lee = lee
DD eyes | ee ae | ak) z eee oboe |e |ne bene el
26} 33} 5} 17) 21 i 4i1, ia 4 21 4G 99) 2 6116 50|100 4 2| 2 2) 10). -



Passenger accom-
modation.

First | Second Steer-

1 floating pile driver, at Colon...|.. oie

6 freight petels, at Colon 6

a Standees as required.

H. Doc. 541, 60-1——3

Ft. in. Ft. in.
303 0 42 0
295 0 38 4
300 0 38 4
360 0 50 0
360 0 50 0
12-0 23 0
102 0 25-3
108 6 24 0
108 6 24 0
109 4 DYES AD)
109 8 224-0
109 8 24 0
107 0 DBF.
110 0 24 0
60 0 30 0
100 0 24 0

COmdoININNN
o>

ETON ee ee

class. | class. | age.
(0) | (a).
62 36 | (a)
66 36 | (a)
60 45 | (a)
78 58 | (@)

Jere r eee tle twee ce
ewer ne ee lorc nw aenenl|ow nance
wee ewe we elem wwe we
wee ee ww ele te oe
eee em eee ele ween we
ed er ee



_b Increase, 5 lighters since last report. _



34 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

SUPPLEMENTAL REPORT SHOWING THE RESULTS OF THE COM-
PANY’S OPERATIONS FROM JULY 1 TO OCTOBER 31, 1907.

[Presented in compliance with resolution of the ee of directors adopted at its meeting of August 12,
190 ;

EXxuisit P. —Income account and profit oe ios account for four months ending October

dl,
INCOME ACCOUNT.
Railroad:
Gross carnings irom Operation. sss sce... ee eee eee eee eee cccs $1, 466, 233. 12
OperabinSOxPONses =e Ss oe SSO a este See ee we owas eee 939, 303. 28
INetearnines from: Operation: soo os eat ee ine oe Oo te rice cee oe $526, 929. 84
Steamship line:
GLOSS COTNINeGSTrOM- OpPeratiON2c ee coho cte mee ee ook eee ceo ca es 520, 580. 18
Operating Ox PONnSes ss Sx See ee eS ee Se eae 584, 681. 35
Net-lossdromoperabionin 2 2 er eee ent eee US iene ss Senne eee a 64,101. 17
Add income from—
IMbESLESb ONESCCUMILICS OWNOdS ia So eae eos ers SSE eee 2, 520. 00
Imberest and exchange esse es ee ee ates Se rome ote 3, 504. 59
———— 6,024. 59
468, 853. 26
Less:
Interest on funded debt, first mortgage 44 per cent bonds—
Interest on $2,163, 000 J uly 1, 1907, to ‘September SOPLOO LS eee ee 24, 333. 75_
First mortgage sinking PULA ize ee Ee cece See oe ee tos 12, 500. 00>
Concessionary subsidy to United States Government under treaty..... 8, 333. 33
Interest on loanfrom United States Government for redemption of first
MOLCFAPO DONAS=. .. 2.5 a oe oe ee ose eens a cece 4,475. 77
Fund for repayment of loan from United States Government for redemp-
tiomol frst mortearye: bOnAsSss ss ee se ee Soe oe me scene 25,000. 00

Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds—340 bonds July 1 to October 31,

TOOT eee Sn Se ee aes Se ae eee ce See 800. 00
Redemption or subsidy ponds 222. s22 se ee eee 68, 200. 00
75,000. 00
Interest; ON JOAN stk See ee ee aS ee oe eee eek ree 22,981. 07-
“hentaloidocks and=machine shops=-s5os2.s.2 eee oe eee eee eee 8, 226. 68
—_—_— 180,850.60
Netinconie for:twelve MOnthSs: 2 2scc.6 coo see eco ee ee ee eee eae e piece tans 288,002. 66
PROFIT AND LOSS ACCOUNT.
By. balance to-credit- of profit-and Joss'Jume 30, 190752225. ose nc coe eee ce cle ee 6,281, 830. 76
Surplus from income account for four months ends October 31, 1907 ue ee ase Sete bees 288, 002. 66
Cost of repairs to two pontoons, damaged by U.S8S.8S.8. Concord at La Boca in February,
LO04 = TOCOVELEG ID DULY, LO0tsc cites ee eas eco ee se ate les oe Seeker cee see 949. 74
- 6, 570, 283. 16
Less sundry accounts written off......... Sab9035 590350 So50aCoud 5059 Sos conn Jeuddda a uens 47. 40
By balance to credit of profit and loss October 31, 1907...............-...........-- 6, 570, 235. 76

a Deficit.



Exuisir Q.—Balance sheet October 31, 1907.

Cost.orroad. real estate. and equipment..22) 222 a ee Hee
ihmprovement and ConsumMiclioMacCOUNTS.. --)2. ase eee
Floating equipment:

Steamers Allianca, Finance, and Advance. $596, 749.66

Add cost of installing refrigerating plants

on steamers Finance and Advance..... 34;315.07

ee

Pues anne SGOT eee

$631, 064. 73
290, 943. 80

ee Ota COST Op LOPOLbYysac soe. sk ee ee ee ee
Bonds in Treasury: Sixty-nine 6 per cent Panama Railroad Company
Sinkinoetundcsubsidiy cOORGdSes4se i) aes k ree ee ee a eS
On deposit with financial agentsfor redemption of bonds: 44 per cent
twenty-year 2Old DONS 222 G2 2 ays ee es ON CS OR ces 3
Advance oL subsidy, to Republic of Colombia —.--.2.. 2-22... 2 2k 2 _:
Redemption and retirement of outstanding first mortgage bonds...
Current assets:
Cashiinebanks and with agents: 2. 22e es $571, 105. 72

Coaland suppliestonenan dhs oan ve tee 983, 461.96
Due from CoOnneclineg COMpaAMles.-- 25) 222455. ees ee 239; 900. 91
Due from United States Government:
Isthmian Canal Commission......-.- $791, 070.64
Post-Office Department. . 2 --2 225... 83, 119.03
Navy Department. sa. 5. 32 Ses 1,575.63
————— 875,765.30
Due from companies and individuals.......-.-.-...- 100, 967.33
Miscellaneous sacCOuUntSs. 3-255 ee ee 1, 116, 148. 50
Unearned insurance and charter of steamers.......- 50, 831. 67
General average disbursements.......- Sens Se a 3, 178. 52

20, 423,050.71 |

$13, 723, 58Y. 16
1, 297, 735. 56

922, 008. 53

15, 943, 333.25

69, 000. 00
89, 413.80

340, 000. 00
39, 948.75

3, 941, 354.91



Capitalistock seers oe pen er aks Seneca dees pars samomias ata oe ae
4 per cent twenty-year sinking fund gold bonds (author-
ized issue, $4,000,000) :
Issue to date (4,000 bonds, less 1,261 bonds previously
redeemed) $2, 739, 000.00
Less redemption and retirement during October,
1907. : 2, 657, 000.00

Total capital stock and mortgage liabilities. 2..........-.-.-.---

6:per cent gold sinking fund subsidy bonds a2 22222222... 2520 22
Loan from United States Government for redemption of outstanding
fT Stem Orbea es WONG Siew Ne aie: a eee oe eee ee ce Ae eo ee Gee

Bonds drawn for redemption not presented for payment: 44 per cent

twenty-year cold bondss ae hak ee ee eral
Funds for redemption of bonds:

44 per cent twenty-year gold bonds...-.-...........- $88, 341.30

G percent sulbsidvabOnGS a9. .4s5-25 a eee ee 251, 875.00

Fund for repayment of loanfrom United States Government for re-
tINEMOEN EOL UIST MORELASC DOMES. oo ia see ei a oe aaa ee eee
HQuipment and plant replacement funds--: 21222 222i sk
Current liabilities:
Due to United States Government— '
Concessionary subsidy accrued....- $17, 708.33
Bills payable—for cash appropria-
ted through Isthmian Canal Com-

mission for new equipment and

LMPTOVEMONCS: - 2. ses ee se 1, 785, 999. 33
——_——— 1,803, 707.66
-Isthmus:drattsnotspresented 25.2522 2 05-33 cecee 718, 918.97
Couponsimot presented sae ees ls eee oe 592. 50
Accrued interest on bonds: 6 per cent subsidy bonds. 10, 200. 00
Audited vouchers and pay, rolls. s-2 22s s i ee 1, 004, 670. 98
‘Due COconnechine lines = soaks.) kaos aes Ree 27, 913.02
Miscellaneous ACCOUMUSS=— e242 2 te eee 121, 812. 63
WUmpaldwwases ois Soe ee ee ee oe ee 7, 839. 55

Interest on loans from United States Government
for redemption of first mortgage bonds..... eG ees 4,475.77



to credit of profit and loss.........- oe cb ene sses sco sesesnanceee

- $7,000, 000. 00

82, 000. 00

7, 082, 000.00

340, 000. 00
2, 148, 367. 50
1,072. 50

340, 216. 30

25, 000.00
216, 027.57

3, 700, 131.08
6, 570, 235. 76

20, 423, 050. 71

(
a Three hundred and forty 6 per cent gold sinking fund subsidy bonds of $1,000 each, amounting to $340,000, issued November 1, 1880, fall due November 1, 1910.
To meet this bonded indebtedness, $225,000 annually of the Colombian Government subsidy was pledged till March 27, 1908, the same to be applied by the company, first,
' to the payment of the interest, and second as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an amount equal

to the then surplus of the subsidy sinking fund, the drawn bonds to be paid on November 1, after each drawing and thereby redeeming the whole,issue in 1908.

«

‘ANVdGWOO CGVOUTIVE VINVNVd SYOLOWdIGd Gavod LdOduad

le



i

*

36 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Exuipir R.—Summary of earnings and expenses for four months ending October $1 ;





~ 1907 and 1906.
1907. 1906. Increase. | Decrease.
Railroad earnings: :

Colon to. Panama. o oo ss se ee $835, 635. 50 $567-330589 $268; 000. eos.
Panama GO: COlOn Ss sss vss ee oes 346, 829.07 224, 938. 69. 121 890538s| See
eMiscellancous=: Scc8 = eos ee 283, 768.55 171, 476.86 112 291. 69s aes es
Total railroad earnings -—.— 2.2. = 1, 466, 233. 12 963, 745.94 O02 487182 |e oe ese
Total railroad expenses...... Sao Se 939, 303.28 612, 616.59 32056865695 ees ceae

= Noiseatnines= = ot Se =

526, 929.84
Per cent of expenses to earnings........- 64.06

Steamship line:

SRO TMIECH EINE SS aoe ce PS eee $520, 580.18

OPA eXPONSES ss ose oe oe ee ene 584, 681.35
Net: 6a Tnin es ssc es Se oe a 64,101.17
Per cent of expenses to earnings.......- 112.31

Grand total earnings Kel eee ae
Grand volabexpenses= = =_ 325... es

Rolaknet: carnines.6 2s. ts. a

462, 828.67
Per cent of expenses to earnings.:......

76.70

351, 129.35
63.57

$1, 986,813.30 | $1, 476, 112.65

1, 528,984.63 | 1,064, 530.68

$512, 366.71
451,914.09

60, 452. 62
88.20

411, 581.97
7, 12



175, 800. 49
0.49

132, 767.26

$510, 700.65

51, 246.70
4.58



$8,213.47

459, 453.95





a Deficit due to increase of charter S. S. Dunottar Castle, $59,932.88; increase in extraordinary repairs
to deck and engine departments of steamers, $52,604.21; total, $112,537.09.

Exuipir S.—Statement of classified railroad earnings, tonnage, and_passengers, Colon to
Panama, for four months ending October 31, 1907 and 1906.





FREIGHT.
ae Rate per
Tonnage. - Warnings. ‘Ol
In-

1907. 1906. crease. 1907 1906. Increase. | 1907. | 1906.

THROUGH.
From New York.....| 42,053 | 34,544 7,509 | $140,692.49 | $122,084.92 | $18, 607.57 |$3. 35 | $3.53
From New Orleans...| 3, 697 1, 545 2, 152 13, 608. 61 5, 160. 45 8,448.16 | 3.68 | 3.34
HTOmM HUrOpe= .. 225 =. 52,915 | 40,119 | 12,796 184, 895. 16 138, 666.28 | 46,228.88 | 3.49 | 3.46
Ota ee 98,665 | 76,208 | 22, 457 339, 196. 26 265,911.65 | 78,284.61 | 3.44] 3. 49
LOCAL. a= oe | eo oe eee ee
Commercial: =<. 3 37,672 | 23,819 | 13,853 115, 785. 96. 82, 867.66 | 32,918.30 | 3.07 | 3.48

Isthmian Canal Com- :
PUMUSSTO Mess eee oes 143° 052: | -66;935 1-76, 117. 242, 553. 18 135, 874. 32 | 106, 678.86 |-1.69 | 2.03
Company freight ..... 13,141 | 10, 686 DAD Be | ee es Sse ee Scenes ene oo eegeces [eercrc
POtale2 so: 193, 865 | 101, 440 | 92, 425 358, 339. 14 218, 741.98 | 139, 597. 16 | 1.85 | 2.16
Total freight ...| 292,530 | 177,648 | 114, 882 697, 535. 40 484, 653. 63 212, 881. 77 | 2.38 | 2.73
7 : MAILS.
Weight (pounds). Earnings.
1907. 1906. | Increase.}| Decrease. 1907. 1906. Increase.| Decrease.
From New York... 429,000 | 384,000 4: 000s eee ees $30, 940. 26. $22,812.79 |$8, 127.47 |..........-
Krom Hurope:.:: =. 43,718 | 36,948 CSCO: See 3,286.30 | 3,046.02 AQ S28. eases 2
A OCH ee Bas ae 31,239 | 27,079 4 NGOs es es 2, 448.83 | 1,920.84 B21eOOS awe ce
Mo bales == 503,957 | 448,027 DDS 980s ee See 36, 675. 39-| 27,779.65 | 8,895.74 |...........
TREASURE.
Value. Earnings.
1907. 1906. | Increase. | Decrease.| 1907. | 1906. | 22- | De-

crease. |Crease.

From New York ..
From Europe......
Local, commercial -

$592, 246. 00
17, 200. 00

$90, 646. 001$501, 600. 00]... -
2,013, 551.00) 1, 446,913.00) 566, 638.00]. ._.-
164, 680. 00|......... . .|$147, 480. 00

2, 622, 997.00) 1, 702,239.00] 920,758. 00|....-

eee n es

89. 00

$1,533.93) $177. 35/$1, 356. 58|...._.-
5,995.17 4,381.21] 1,613.96). ____-

DAT. OO oer 5158. 02



4

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 37

Exurpir §.—Statement of classified railroad earnings, tonnage, and passengers, Colon to -
Panama, for four months ending October 31, 1907 and 1906—Continued.

EXPRESS. :
_ Weight (pounds). Harnings.
De- | De-
1907. 1906. ner ease. Grea. 1907. 1906. | Increase. Gronde:
Loeal:
Commercial....... AND 280 nize oe 405-280 ee $2, 454. 36 |..2-..-- . -|$2, 454. 36 -|...-....
‘Isthmian Canal ...|. 34,348 |........<. 34,348 |.......- 2025 ON eae ee ee 202. Ole oes 3
BO tals sss eae ABO SO28 el ae ee 439,628: |: ose. .%- EOD Dil, |e Fo
BAGGAGE.
Weight (pounds). as Earnings.
1907. 1906. |Increase.| Decrease. 1907. 1906. | Increase.| Decrease.
From New York... 24.725 Gl 405 ses oe 39,680 | $337.05 | $340.39 |.....-.-.. $3. 34
From Europe ....- 39, 687 DO OO (el eee ees 15, 920 QS HAS AD Ae ee ge 318. 40 -
OCH ao ee e 364, 509 Q71, 385 93 124s eee 7, 556. 55 4, 121. 69 (88, 434. 86.| 22.5 cca ss
ovale x 425,921 | 388, 397 OgO24T eee ee 8, 687. 34 | 5,574. 22 | SAGO |e eee

" PASSENGERS.

Number. Earnings.

1907. 1906. | 1a- | De- 1907. 1906. | Increase. | Decrease.

Crease. | Crease.



From New York:

First. class=. =: 1,040 L220 lee 180 | $2,800.54 | $4,692.88 |........_.- $1, 892. 34
Second class... 84 Sie lone ss 3 362. 26 SOLO elles eee es 19.11
From New Or- :
leans:
First class... Ae ores Bevan ete 262002 akan Sa O20: O02 eee ee
From Europe:
First class....- 282 D92e ee 10 1, 661. 19 LeTAO sO oe eee 85. 38
: pecone class= eel 154 JOR Se 724. 13 622. 06 10220 fe ee ee
ocal: :
First class....- 78, 083 44,334 | 33,749 |......-- 31; 992-702. 18- 000538. | 19 9928S Ta) ea
Second class... 132, 221 TAS MD | ONG ASO ee 38, 895.18 | 19,074.10 | 19,821.08 |.-<........
ROUAss = 211, 887 rs S597 E01F 028322. ee 82,462.00 | 44,517.31 He: 944.693 |2

Statement of classified railroad earnings, tonnage, and passengers, Panna to Colon, for |
four months ending October 31, 1907 and 1906. 3





FREIGHT.
Tonnage. | Earnings. Hevee
1907. | 1906. |Increase.| 1907. 1906. | Increase. | 1907. | 1906.
THROUGH.

TROENGW: OTK as 24, 348 | 18,613 5, 735 | $70,219.08 | $57, 424.09 | 12,794.99 |$2. 88 | $3.09

To New Orleans.......-. Oiler 2 Sal Ge ieee ee O: 1S se eel eee
(ROSH MUO DCs eee 21,270 14, 629 6, 641 69, 375. 79 46, 703. 21 | 22,672.58 | 3.26 3.19
TRO tale a ona 45,620 | 33, 242 12, 378 | 189, 603.05 | 104,127.30 | 35,475.75 | 3.06 | 3.13
LOCAL. ee ee

Commercial: :

La Boca-—Panama...... 5,219 | 4,964 255 | 2,612.78 2, 471. 31 “141. 47 . 50 . 50
Panama-—Colon......... 5,283 | 4,457 826 | 16,300.59 | 15,218.93 | 1,081.66 | 3.09 | 3.41
Isthmian Canal Commission| 45,672 | 26,176 19,496 | 90,349.11 | 52,309.44 | 38,039. 67 | 1.98 z 00
Company freight....-....-- 5, 766 | 1,062 CNY (0) Sed era a eee er oe ee ‘See alee
Motale ==. ee 61,940 | 36,659 | 25,281 | 109;262.48 | 69,999.68 | 39,262.80 | 1.76 | 1.91
Total freight........./107,560 | 69,901 | 37,659 | 248, 865.53 | 174, 126. 98 | 74,738.55 | 2.81 | 2.49





38 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Siulement of classified railroad earnings, tonnage, and passengers, Panama to Colon, for
four months ending October $1, 1907 and 1906—Continued.







MAILS.
Weights (pounds). Earnings.
1907. | 1906. Increase. | Decrease. 1907. 1906. Increase. | Decrease.
To New York...... 49, 733 37, 856 11, Sie eS $2, 512.36 |$1, ee 84 S202 ee eae
RO HULrOpe x. sc os 1 143 DEAN OR Seton ce 1, 027: 97. 46 SOD aren $126. 46
Hocal ans: Seen 3 184; 1,381 1 S03. tenes Pees 407. 46 a8, 73 LOM See ees rs
otal 250 = 54, 060 | Al, A07) | 12,658 \--28 2. 3 O17, 28 | 2,348.49 | 678,79 |...
TREASURE.
Value. Earnings.
1907. | 1906 Increase. |Decrease.| 1907 | 1906 In- De-
: : : : : crease. | crease.
To New York..... $481, 004. 00; $580, 653. 00)-.--.....-- $99, 649. 00) $1, 865. 81) $2, 358. Sb soxsees $493.04 .
OeHUTOpes 2s. 5: 848, 623. 00 701, 435. 00|$147, 188. 00).......-.- 2, 971. 87 2 166;:73|) $805: 14|5 = = Soe
Local, commercial . 7, 386. 00 i 600. 00 5, 136500 |2 38 oays 18. 46 2. 40 16506 caaeeee
To taltes sees 1, 337, 013. 00)1, 283, 688.00) 53,325.00).......2..| 4,856.14) 4,527.98) 328.16)........
EXPRESS.
Weight (pounds). Earnings.
1907. 1906. | Increase.|; Decrease. 1907. 1906. Increase. | Decrease.
Loeal:
Commercial ---| -7386; 788 |2--.. -. 2. (BO 188 losses eee $4,309, 50: (S00. 236 ee 4, 009. 004|2.c8. o.oo.
Isthmian Canal} 80,672 |.......-..- 8056720 ers 454. 30c|2ec 35 os: ABS 30: eaceee coe.
MOotaleesce.s SI PAGOE Sees SUZ; AGOS aoe eae A 193%80: |eessse acs 41930802| Se aoe ees
~ BAGGAGE.
Weight (pounds). Earnings.
1907. | 1906. |Increase.| Decrease.| 1907. 1906. | Increase.| Decrease.
Se
To New York..... 3, 156 | TAT eee 4,315 $565605| ol4/s0a ees ee $90. 40
PROPEL O PCe reise oa ree Sete aes feraos ape | nee eee | oa eine reco seer ae eee a ean cae ee elie ici seis seni
HOC ONE Ee es Sess 301,591 | 282, 113 GOR4A1S: eee 6, 105. 85 | 4,996.30 |$1, 109.55 |...........
——Motal.. =. 304, 747 | 239, 584 GovlO3 see ee GrllG2- ASE ep 4ASeSS7 el OLO hale ee ee
PASSENGERS.
Number. Earnings.
1907. 1906. | Increase.| Decrease. 1907. 1906. Increase. | Decrease.
To New York: :
First class...- 167 196s Bee ee 29 $969.35 | $1,181.00 |........... $211.65
Second class. - 239 DOSa ee eee 29 1 O49 .622 eal loss lQiis See eee 103.50
To Europe:
First class. . 329 261 OSes aa 1,900.39 | 1,466.41 $433 98ic| ees aes
. cecond class... 13 30 AG see ee 310. 50 130. 50 180500; eee
ocal:
First class....| 74,232 | 41,867 32, OOD ee oe eee 36,631.49 | 16,761.87 | 19,869.62 |...........
Second class..| 127,128 | 67,293:| 59,835 |....- See ee 38, 272.49 | 18,104.01 | 20,168.48 |...........

‘Motal-. 02, 168 | 1007015 | 92058 |. = 79,188.84 | 38,796.91 |. 40,886.03 |...



REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. a

Exutisit T.—Statement of steamship statistics for four months ending October 31, 1907

Panama R. R. ships:

ATRL V OG 26 oe owe eee
Dall eine is oe eset
' Chartered passenger ships:

NITIV OC oe Sone nce ea
Salled secs ss Soe eee

Total freight earnings.......
Average rate per ton........

Panama R. R. ships:

ATTIVEG Seasonic sen eens es
Sailedss.2 ee ee
Chartered passenger ships:
ATTIVOCG Sooke woes Saeco
Salles sss ee ce

Total passenger earnings....
Average rate per passenger . .|:

and 1906.

FREIGHT TONNAGE.

Increase.

Ships. Tonnage

Decrease.

Ships. | Lonnage

carried.

ey | ees tener || ey fees | ey ees) fren



1907. 1906.

. Tonnage ‘ Tonnage
Ships. carried. Ships. carried.
9 2a! 15 10, 947

i“ 12,114 15 23, 053

13 12, 739 10 8, 049

15 38, 873 10 24, 398

44| 70,957 50 | 66,447
$302, 927. 92 $293, 141. 57

4. 27 4, 41

PASSENGERS CARRIED.





carried.

3 4,690

5 14, 475

ce es ees 4,510

$9, 786. 35 |
Increase.

ships. | Passe
3 901

5 400

Decrease.

Ships. Passen-



| OO > SO eS OO ::???”0Ohns)D re > ss |

1907. 1906.

ee lop e

Ships. ee Ships. Borat
9 654 16 1136
7 602 15 1, 625
13| 1,786 10 885
15| 2,386 10| 1,986
44| 5,428 50| 5,631
$137, 126. 10 $150, 414. 83

25. 26 26. 71

O

ese eae ee ceeee ee ee ©

gers.
6 481
8 1, 028
6a
$13, 288, 73
1. 45-



ee

etre
aes

ein
ees eRe
Sas Zee Ss

Be















- : .

ae ee (DOCUMENT
7 ee \ No. 632





60TH CONGRESS ) oe
2d Session 5 | .



OF THE BOARD OF DIRECTORS OF

‘















FOR
ENDED 30
MESSAGE FROM THE PRESIDI , OF THE UNITED

FIFTY-NINTH AN-

‘3

NUAL REPORT OF THE BO
OF THE PANAMA RAILROA:









LETTER OF TRANSMITTAL,

To the Senate and House of Representatives:

I transmit herewith for the consideration of the Congress the fifty-
ninth annual report of the board of directors of the Panama Railroad
Company for the fiscal year ended June 30, 1908. |

Daponorn ILOOSEVELT.

Tue Wurre House, January 5, 1909.
3





PANAMA RAILROAD COMPANY.

BOARD OF DIRECTORS.



GrorGE W. GorrHats. | Morpercal T. ENpIcortT. H. H. Roussgau.

J. C.S. BLACKBURN. D. DuB. GAILLARD. RicHAaArD REID RoGeERs.

H. A. DRAKE. W. C. Goreas.¢ JACKSON SMITH.@

CLARENCE R. Epwarps. 4H. F. Hopaus. W. L. SIEBERT.

OswaLp H. Ernst.

OFFICERS.

GEORGE W. GOETHALS, president.............- PA AR ee Culebra.

Bea DRAKE, vice-president: == 0 ee New York.

Hiram J. SLIFER, assistant to president and general manager.........-.- Colony.

J. A. Sirs, superintendent Bes aS ee ee Colon. a

SYLVESTER DEMING, ERCOSULCH Ss Soo es See ers New York, 33

fo INOSSBOTTOM, SeChelahy © 9502s Ses New York, —
JOHN: ADAMS, QUCIUORo Ae oes ee co a ho ieee New York.
ps. STUNTZ, LoCo autores ee ee .- Colon. oe

ER: Hopezs, Perera’ purchasing Olicer 2. a New York. —

he GUN ORDSIEK, assistant purchasing and shipping officer-...-..-......- New York. —

ROLAND ALLWoRK, INSPECGLING CNOIMCCh= aso) ke New York.

P. G. BAKER, master mechanic) Pn eros es ae Colon,

R. Bupp, chief CNSUMCCR es te see ee ee a ee sees oh Colon:

Hf BAwoen, terminalsuperintendent..2.22.. 2.22.2. ee. .. New York.

RICHARD HID ROGERS, weneral counsel). --2...2....2222..,.2...2...... New Mors

GENERAL OFFICES.—24 State street, New York.

a Retired September 21, 1908; F. 6. Boggs aad E. T. Wilson elected by the hoa
on September 21, 1908.
4





ANNUAL REPORT OF BOARD OF DIRECTORS OF PANAMA RAIL-
ROAD COMPANY, 1908,

Panama RaILROAD COMPANY,
New York, N. Y., November 7, 1908.

t 0 the Stockholders of the Panama Palio Cn

I respectfully submit for your consideration a report of the com-
pany’s financial condition and operations for the twelve months from
July 1, 1907, to June 30, 1908.
~ Teall attention to the accompanying exhibits, showing income and
profit and loss account, general balance sheet, and statistical tables,
which will give you detailed information upon ne financial aspects
of the company: s business.

- @apital stocl< issue (unchaneed)..:2... 42) 9 a ee $7, 000, 000. 00
The only. outstanding bond issue June 30, HS was:

Sinking fund 6 per cent subsidy bonds:
Original i issue of (for payment in advance of the annual subsidy of

$9.25, 000 to the Republic of Panama) es Or Ore Sere Na $3, 000, 000. 00.
Redeemed by annual sinking fund drawings..-..- PER) Re - 2,865, 000. 00 .
Oiemiding = _ 185, 000. 00

Of these outstanding 36 were purchased out of earnings and are
owned by the company.....-....2- ee ss eee : 36, 000. 00
Leaving in the hands of the ae se as ne 99, 000. 00

Through the operation of the sinking fund, all of these outstanding
bonds were drawn for redemption on November 1, and the balance of
the subsidy for 1908 up to $225,000 will be due and payable to the
United States Government, as the legatee by treaty with the Republic
of Panama, dated December 2, 1908, of the financial benefits of the
company’s contract of copcession.
As the company was not relieved by that treaty from payment of
_ the annual subsidy covered by Article III of its contract of concession,
_made in 1867, the monthly indebtedness on that account, as it accrues,
_will be set aside for payment to, or as directed by the United States
_ Government, owner of the company's property.
|. Upon payment of the 135 bonds drawn for redemption on Novem-
_ber 1, 1908, the entire original issue of the company’s sinking fund 6
per cent subsidy bonds, amounting to $3,000,000, will have been
redeemed. By the retirement of the subsidy ‘bonds following the .
_tedemption on October 1, 1907, of the then outstanding balance of
the authorized issue of the company’ s first-mortgage 43 per cent
twenty-year gold bonds by means of an appropriation by Congress
_ tor that purpose, ail of the company’s bonded indebtedness will have
been canceled.















6 REPORT OF THE PANAMA RAILROAD COMPANY.

Notwithstanding that by the redemption of its first-mortgage —
bonds the company was relieved from the payment of interest thereon
at the rate of 44 per cent and there was no obligation imposed upon it
by congressional enactment to pay any interest on the above-men-
tioned appropriation, the company has undertaken to liquidate the
amount advanced by the establishment of a sinking fund through
which payments of $100,000 per annum are to be made to the United
States Government.

The company’s operations for the period. covered by this report
show that, after the payment of the total cost of operation and of all
fixed charges, there remain net earnings of $1,028,856.72, which, in
addition to advances for the same purpose made by the United States
Government to the company, have been applied to improvements and
new construction, the total expenditures for which account amounted,
during the fiscal year as shown by Exhibit F, to $971,981.63.

The sum thus advanced during the fiscal year by the United States
Government, in addition to the $1,197,892.77 referred to in the annual
report for the fiscal year ending June 30, 1907, amounted to
$2,734,371.47, of which $2,148,217.50 was applied to the redemption
of 44 per cent bonds, and the balance, $586,153.97 to new construc-
tion, equipment, and improvements. :

At the annual election held in April, 1908, Director Peter C. Hains
retired and was replaced by Col. H. F. Hodges; Mr. EH. A. Drake was
reelected vice-president of the company; Mr. Richard Reid Rogers,
general counsel; and Mr. H. J. Slifer was appointed general manager
on the Isthmus and assistant to the president there, replacing Mr.
_W.G. Bierd, retired.
Respectfully submitted.

es GEORGE W. GoETHALS, President.

PANAMA RAILROAD COMPANY,
: New York, November 2, 1908.
Col. Gro. W. GoETHALS, )
President Panama Railroad Company, |
New York, Ne

Dear Sir: I beg respectfully to submit herewith the financial
exhibits and results of the company’s operation for the twelve
months from July 1, 1907, to June 30, 1908, with statistical tables
and accompanying explanatory comments thereon for your consider-
ation in connection with your annual report to the company’s
stockholders. 3 |
Gross revenue receipts, expenditures, and net earnings for twelve
- months ending June 30, 1908, compare, as under, with those of the
twelve months ending June 30, 1907:



i P

Increase (-+-) or





1907. : 1908. decrease (—),

1908.
/ Beaming; 8 $5,190 810001 -85.099,000 07,1 es00 Ist 38
Operating expenses........-. EPs Sails Sere 3, 610,874.50 | 4,469, 507. 71 | + 858, 633. 41



Earnings over operating expenses...-..-------.-- | 1, 588, 936. 39 ! 1, 580, 484. 36 | — $8, 452. 03









Ve
}
i

REPORT OF THE. PANAMA RAILROAD COMPANY. i
EARNINGS.
RAILROAD.

_ The total earnings of the railroad for the transportation jof all ama
of traffic show an increase of $902,537.58, or 24.80 per cent jover
twelve months of previous year. Of this increase in revenue, $453,-
513.91 was derived from merchandise and coal freight, westbound
business showing an increase of $461,746.59, while there was a falling
off of $8,232.68 in eastbound business. Passenger earnings increased
$200,270.57 and mail earnings show an increase of $15, 785.55.

Freight traffic from New York and New Orleans to South Pacific
ports increased 4,662 tons; to Panama 2,348 tons, while traffic to
Central America and Mexico shows a decrease of 6,104 tons. From
Kurope to Central America and Mexico there was a ‘decrease of 3 365.
tons, and to South Pacific ports an increase of 19,938 tons.

Traffic from Central America and Mexico to Europe increased
18,407 tons and from South Pacific ports to Hurope there was an
increase of 3,208 tons.

The following table shows the freight tonnage carried over the
railroad for twelve months ending June 30, 1908, including company
freight, as compared with the twelve months ending June 30, 1907:

| [Ton of 2,000 pounds, or 40 cubic feet. |







| Twelve months end-





ing June 30—
NS AN eae _ Inerease.
| 1908 a 1907.
a a ee Se Se
}
; Tons. | Tons. | Per cent.
GCarriediwesthound s4o tsk s ee ee ee 880, 301 640, 132 | 37. 52
Carried eastbound] fos 22 2 eros o eer ees eee 304, 348 296, 214 | 2.75



Totalawest: and: cast-b OUN Gass. a ee ye ee fu 1, 184, 649 te 936, a 2 26.52

The gross earnings per ton moved on the road compare as follows: -

Twelve months
ending June 30—







[ee kOe _| Decrease.
_ 1908. | 1907.
oe a ame
|
Per cent.
NAV (ISIE OO] NaK0 le eee ae eee Bn ere eee te Ces Oe ee Ee Se0 45 $2.71 9.59
ASTI OUI ee Se Sr eee aera one A eRe pare | Dane 2,58 39
Average west and east bound.........- yearn a aR eS pee: | 2.48 2.67 Uae
|



Exhibit L, accompanying this report, shows the origin and desti-
nation of the freight carried over the railroad.

The total revenue freight traffic of the railroad during the twelve
months ending June 30, “including both merchandise and coal, was
1,144,919 tons, an increase of 250,095 tons, or 27.95 per cent. The
total revenue derived from this traffic was 2 842 840.98, an increase
of $453,513.91, or 18.98 per cent.

In addition to the above traffic, 39,730 tons of company’s freight
and 2,107 tons of mails and excess baggage were hauled.



8 REPORT OF THE PANAMA RAILROAD COMPANY.

Of the total freight tonnage carried, 74.31 per cent was westbound
and 25.69 per cent eastbound. In 1907 the percentages were 68.36
and 31.64 per cent, respectively. |

The through traflic was 35.50 per cent of the total tonnage handled,
as against 40.66 per cent for twelve months ending June 30, 1907.

Coal Gncluding company’s) comprised 54.25 per cent of the local
traffic westbound. |

The following statements show the number of passengers carried
and the passenger earnings:

NUMBER OF PASSENGERS CARRIED.









Classification. 1908. | 1907. | Increase.
| Per cent.
ITS TCLASS ASSEN OOTS 6 ae lair pas ee Mes hee MES Ie | 479, 586 | 325, 077 | 47. 53
Specnd-classipassemoers (ee ee ee | 906, 059 | 557, 200 | 62. 61
gierens | PSNR BE ES GE ont ra | eo pebsaies
EL OLE e SP SO Ue Sie sie reer ea a ieee Cee eee Se a | 1, 885, 645 882,277 | 57. 05
PASSENGER EARNINGS
First-class passengers.............. fe OS UO ae ee as Py, | $267,997.31 | $165, 194. 52 | 62. 23
Secondeclass Passeneers 2c 5 ee ee | 258, 849. 55 161, 381. 77 | 60. 40
Mota os OI ee ee | 526,846.86 | 326, 576. 29 | 61. 32
|
AVERAGE RECEIPT PER PASSENGER.
oe SIRE 2 ee a initio
First-class passengers:
Mhrough +2 Se ae Seg ae a ae Sea eee hel ek eee Ur — $4. 54 | $4. 13 9.92
Lecal. Niger cea wena Nat cr me Wane eat Nope a Aum Eae Bearers a ero: | . 44 18. 18
Second class passengers: |
UR gh Ges f 2a Oia Na Re ec sana a Oak a tReet e, 2m Sa aoa eo eed 4.27 4.24 | oalel
8 | RDG earn erate
|

Bee eee Se een ONG 2 aha teas esi ree gers Gees erro eee I ue

_ The gross revenue from the transportation of passengers was
$526,846.86, an increase of $200,270.57, or 61.382 per cent, while the
number of passengers carried shows an increase of 503,368, or 57.05
per cent. ee |

The revenue received from through passengers shows a decrease of
$4,879.54, or 15.61 per cent, and the number of passengers a decrease
of 1,634, or 21.70 per cent, as compared with the twelve months
ending June 30, 1907.

Local passengers show an increase of $205,150.11 in revenue, or
69.47 per cent, and 505,002 in number carried, or 57.78 per cent.

MISCELLANEOUS RAILROAD RECEIPTS.

The total receipts of the several accounts grouped together under
this heading amounted to $946,647.78, an increase of $192,557.58,
or 25.54 per cent, over twelve months ending June 30, 1907.

The receipts for wharfage at Panama and La Boca and lighterage
of cargo in Panama Bay, which are included above, show an increase
of $65,637.75. |
| | STEAMSHIP LINE.

The total earnings of the company’s steamship line were $1,458,-
504.28, a decrease of $102,356.20, or 6.56 per cent, as compared with ©
the twelve months ending June 30, 1907.



REPORT OF THE PANAMA RAILROAD COMPANY. o

Freight trafic decreased 14,823 tons, or 6.90 per cent, and the
revenue therefrom shows a decrease of $79,915.13, or 8.46 per cent.

Passengers show a decrease of 342 in number carried, or 2.42 per
cent, and a decrease in earnings of $33,576.27, or 8.51 per cent. |

The increase in revenue from the transportation of mails was
$7,398.65, or 3.85 per cent.

Of the total tonnage transported 83,353 tons were carried by the
company’s steamers and 16 ,694 tons by chartered steamers. In the
twelve months ending June 30, 1907, the former | carried 108,899 tons
and the latter 105,971 tons. : :

EXPENDITURES.

The operating expenses for the twelve months ending June 30,
1908 and 1907, compare as under.













:
| 1908. | 1907. Increase.
Ss Coe 2 ee ween s ee sin ae pos
Rauboads. | Cases a ee ee | $2,831,142.76 | $2,208, 526. 7 il $622, G15. 99
Seams DIG ote SO es Ua OE a eee eee cd als (38, 364. 95 i 402,347. & :



Total ie Se ae ass a 4, 469, 507.71 oo 858, 633. 41



This table shows an increase of $858,633.41 in total operating
expenses, while there was an increase in total earinnes of $800,181.38.
(See pp. 6 and 7.)

RAILROAD.

The following data, relating to operations on the Isthmus, is sup-
pied by Mr. H. J. Slifer, general manager:

CONDUCTING TRANSPORTATION.

The expenses of this department increased $256,086.16, or 25.39
per cent, over the last fiscal year; freight tonnage handled shows
an increase of 248,303 tons, or 26.52 per cent, while the mileage of -
this tonnage increased 9,150,879 ton-miles, or 24.87 per cent. :

The increase in the cost of conducting transportation is due to
two causes:

First, increased ton-milea ge of ireight. In 1908 tons revenue and
company freight carried 1 mile was $45,936,204, whereas in 1907 it
was $36,785,325, an increase of $9,150 879. |

This naturally increased the freight-car mileage from 3,444,971
miles to 4,080,479, or an increase of 17 per cent, and the result is
shown in the increased gross revenue, amounting to about 24 per
cent. This increased ton-mileage, which in turn brought about
increased car mileage, naturally increased the freight-train mileage
9.96 per cent, necessitating the employment of more forces, the
consumption of more fuel, which during the year 1908 was charged
out at an increased valuation of about 10 per cent, and in a general
way increasing all of the expenses of the operating department.
Some of the increase was offset by reductions in the tonnage per
train and per car, statistics for which are shown in Exhibit I.

Second, new rules which were made during the past fiscal year,
under which our employees were granted an increase in pay due to
longevity, and also by the rules which - were promulgated to dispense °

~



10 REPORT OF THE PANAMA RAILROAD COMPANY.

with the accumulation of vacation time. These two increases alone
represent 11.10 per cent increase in our pay roll. |

The following statement gives the number of trains handled during
the year ending June 30, 1908, and also a comparison between the
months of June, 1908 and 1907.





































| |
| | 7 a
| Panama Railroad trains. | pe Cn
sO [SO ee oe ee ey ee ee oe en Grand
Direction. | | | i 7 Hotal:
os Work. | Total. | Special. | Work. Total.
BUSES eet Se 6 eS eee Nae a f-
INOTUMD OUI ise re er ae Ge i 5018 890 | 6,808 | 42 | 32,904 | 32,946 | 39,754
SOUDMDOUN Ga see Sa ee eG ae | 6,359 © 889 | 7,248 | 66 | 31,181 31,247 | 38, 495
Total year ending June 30, 1908.....- L2H, | 1,779 | 14,056 | 108 | 64,085 64,193 | 78,249
Average Number per: day. 3-8 sees es | 33. 6) BO 38.014) Qos W(S20 1 76.9.1) 21a
dune; 100ee beer it ss | 6 ase aor | Brod
pe LOO tie eA eee Se 1,100 3 184 |. 1,284) 8 2,082, 2,890; 3,874
DECTCASC ALTAINS aris ee a ee | 221 | 30 Bolas — 2)41.903 : a1. 901 | a1. 650
Mecreases per CON ts ee ee ee 20:09 | 16.30} 19.55 | 25.00 473.70 473.40 | @ 42.59
Average decrease per day in June, 1908, | |
OVE JUNE 90 (ctralnS 2 eo ee es | 14 105| $24) .07 | 468.4 ° @63.4 a@ 50.0



Pee ae ee Se | | Sores ie

a Denotes increase.

NotE.—The largest number of trains passing through any one blockin eight hours was 240, by Pedro
Miguel, but as many as 293 train movements have been made in the same period by one point (Mira
Flores).

MAINTENANCE OF EQUIPMENT.

The expenses of this department show an increase of $49,714.01, or
14.93 per cent. A very large portion of this increase is due to the
inaintenance of additional equipment purchased during the previous
year, viz, 24 locomotives, 23 passenger coaches, 500 box cars. We
have equipped a number of the best of the smaller cars with auto-
matic couplers for safer operation in trains, entailing certain increased
expenditures, but the old equipment is being gradually destroyed as
being unsafe, and in accordance with policy previously adopted. :

When the Secretary of War authorized certain increases of pay due
to longevity service, effective July 1, 1907, it immediately increased
our shop pay roll about 3 per cent. re

The action of the commission in deciding that vacation pay would
not be accumulative, caused our forces to immediately take up their
vacations, and our pay roll on this account increased 166 per cent, or
from $4,216.45 to $11,253.85. In future years these vacation pay-
ments will naturally be less and more nearly on an equality.

The following new equipment has been received, erected complete,
and placed in service: Two first-class coaches, length 68 feet; 8 sec-
oo coaches, length 68 feet; 2 baggage and mail cars, length 68
eet. :

At the shops of the railroad company there have also been erected
for the Isthmian Canal Commission: |

Ey abCeSuCel Gn Cals. Sk 500
Western dump cars, 80,000 pounds capacity, completing order of 300............ 164
p 0 Non wooden fabcars: 8 ee 300
Bay, Uniyapile drivers 5.000 os oe Z,
Model 20;ton Marion steelshovel «9 8520 5 oe 1
Mamchcspreadetses | ee See ee ee 10
4-yard narrow-gauge dump cars. ...-.-.-.-.---- Oe pe ee ee ee 30
POstOMe DAV. OLUVAChaNCh ee ee a +
WA AtOM. TOW M@sCramnes: 2. 9 es 3

LQ bon Daye G@lly, CLaNGR ee ee 2



° REPORT OF THE PANAMA RAILROAD COMPANY. dk

MAINTENANCE OF WAY AND STRUCTURES.

The total expenses have increased $138,143.89 over 1907, or 31. 33
per cent, due principally to large forces necessary to keep up new tracks
on fills and to heavy rail, tie and switch renewals. The coming
year will show a decrease in maintenance expense because physical
conditions are excellent and the second main track embankment has
had most of its settlement.

Track department.—The second main line has been completed and
is now in use between milepost 74 and milepost 364, milepost 404,
and milepost 464, and 1 mile of the La Boca branch, a total of 352
miles of double main track.

During the year 45,000 ties, 52,000 cubic yards of gravel, and
25,000 cubic yards of crushed rock have been used.

New side, house, and commissary tracks laid with 70-pound steel
have been constructed as follows:

















Sidetracks. | House tracks. | - Commissary Total.
: | acks
Location. Jv aa ae eas Bl a Se i eC a Le Sree 7G
| No. | Length. No. | ee No. a Length, No. | Length.
as | ae a SBS Ve Dee
| | !
| Feet | Feet. | Feet | Feet.
MUOTCA NECLO One es eee [eioe Sapna ee ates ela OTT es ee coe aa gene les 911
ETO LOS soe eee EN ee as | 12] PASO aie tees ee coe iio ata ieee te 23
PSam Pablo 6 oe 1, 202 | fete is ese oe ee Laie e208
GOES ORE ae ee ee Sen oe se ae | 1 | EADO ee [Nearer cree le enos cpio bee 1} 1, 450
Tas: Cascadas: sis oes ae es [Soe e [Sees ee (eee eee 1 | 1,100 1 1, 100
CUS eye es at oe Re eras Mier Pes ee pee ea ' ra [255] 1 590 | 2 1,315
PedrogMigiieloe ei ss ei ae ee [apes eeereani eee Rea he eau ee ihe Od | 1 515
Mina Oreste Sls Sues, SRE ae sea He Sea ee ee jester is Oe ote Negue on ee 1 | 1, 120
ovale chen. seins: Stee pe ae se oa ea 4008 2 86 3 a 2,265) ~ 91 47,909







a Pincade: 1,500 feet puilt dunine | 1907 at ie San Pablo, and Goreeun

At Mount Hope a material yard containing 12,210 feet of track
was laid for facilitating the handling of material at the Isthmian
Canal Commission material and store yard. The cost of this work
oe borne by the Isthmian Canal Commission, for whose use it was
Ut.

At Colon a temporary coach yard was taken up and a permanent
one containing 1,725 feet of track built. The old terminal has also
been removed and the eround filled in for quarters. This provides
fifty of the choicest building lots in Colon, lying along the beach
between the church and the hospital.

The old Panama yard has been entirely remodeled in order to
accommodate increased passenger business and facilitate the handling
of freight. As now being built, the yard consists of an 8-track
diamond 1,300 feet long, a terminal yard consisting of new turntable,
engine house, water station, cinder pit, and machine shop on one side
of the diamond, and 4 industry tracks on the other side, a 4-track
passenger yard and 3 pairs of team and freight-house tr: acks 700 feet
long. The team tracks and freight house are located alongside a
new street that has been opened from the end of Balboa avenue at
Sixteenth street to the passenger depot. The work necessitated laying
the following amount of track: |

Feet.
New 70 pound sted 2 7, 740
S: El 70-poumd steel. 11, 510

SoG SOpound steel SS ee ee 3, 450



©)

12 REHPORT OF THE PANAMA RAILROAD COMPANY.

Work is 90 per cent ceEnplote.

Owing to the heavy dirt-train traffic between Las Cascadas and
Tabernilla, it has been necessary to replace the 70-pound steel on
curves and short tangents on this part of the line with 90-pound rail,

using continuous rail joints. Details follow:

Miles of track relaid:



ee

SOU bounds Nk eee ae eae miles
North bounds eee ee ee ee dos 9°26
Crossovers relards (NO. 10ers do: 2 12
Turn-outs relaid:
INO OP Se a Oi ee co el cee a a ee doz2.732
INO fe ee ee es es dors 2
ROUAECOSE: Te W. IMMaberiaieme ase Se ee b122, 589. 40
Vole SE matenal necovered ee 51, 155. 82
Net:cost-ofmaternalie ioe Mg ee 71, 433. 58
Motal labor COSh ne a i ee 30, 712. 56
Moral cost 5 102, 146. 14
This was an Isthmian Canal Commission charge. 7
The following changes have been made in the main line:
Juan Grande cut-off. |
Length, milepost 274 to 208 De ae a ae feet 3, 300
Saving j TM” CIS DANN Om ee Be ee es a do. 748. 5
| Saving AT CUPVENGUT CU GON ee Re ee ee 104° 347
Molec ee eee ees $30, 414. 44
Paraiso canal crossing.
toh MoulepOst S07 L005 5 2 eos ee feet 6, 600
Increase in distance. pers ee ee do. | 393
Pe Sinenease IM CURVAUUTOR TES o eee ne Se isl ae ea Loe 2o4
BE lOpal COst. Ss 8 ee er $54, 039. 65

‘This new canal. crossing was necessary because the old line passed

through the Pedro Miguel lock site.

Paraiso line changes were in the interests of canal construction and
were paid for by the Isthmian Canal Commission.

Besides these two line changes, the grade was raised on old align-
ment at Rio Grande Reservoir, Barbacoas, and between Tiger and
Lion hills, as follows:

Rio Grande Reservowr, October, 1907.—Grade raised 3 feet at bridge
56, which spans the spillway. Average raise of single track for 2,500
feet was 1.3 feet. Purpose was to increase capacity of reservoir.
Total cost, $1,874.40, borne by Isthmian Canal Commission.

Barbacoas, February, 1908.—Grade raised 2.4 feet at bridge 44
Average raise of double track for 2,600 feet was 2 feet. Purpose was
to give better clearance for extension flat cars loaded with excavated
material from Culebra Cut. Total cost, $5,099.60, borne by Isthmian
Canal Commission. cv |

Tiger Hill, May, 1908.—Grade raised 4 feet at bridges 25 and 26.
Average raise of double track for 3,000 feet was 3 feet. Purpose was
to prevent tracks being flooded by backwater due to canal operations
at Gatun Dam. Total a $6,100, borne by Isthmian Canal
_ Commission.

The tonnage of trains was not affected by any of the above erade
changes.

‘Both the Juan Grande and ~



REPORT OF THE PANAMA RAILROAD COMPANY. tS

The track across the Black Swamp near Ahorea Lagarto has always —
eaused trouble in the wet season by settling; but in July, 1907, under
the increased number and weight of trains and the additional weight
of the fill for second track, this settlement became rapidly worse, and
finally, at noon on July 30, 300 feet of double track embankment and
both tracks settled about 12 feet. Two pile drivers were used to drive
a trestle across the break and traffic was resumed on the morning of
August 1, forty-two hours after the trouble occurred. On September
20, 200 feet more of the swamp settled in the same way and was
sunilarly replaced with trestle after forty hours’ interruption to trafic.

In view of the proposed abandonment of the present line across the
Black Swamp in about two years, traffic will be carried on by use of
the trestle in the meantime. |

Bridge building and dock department.—Twenty-eight bridges with a
total length of 2,763 lineal feet have been built as follows:

New main-line bridges built from July 1, 1907, to July 1, 1908.



















Y | : | §
B ules | Location. | Length. | s Re Trestle. | Reason pull
Feet. | Linear feet.
LOS GAM cee eee 45 | 2 £0 | Replace bridge 13, blocked by Gatun dam-
Lelie tes GOs2 See: et 163 |: 1 163 | Second main track.
25 | Wiger Wilk... ae 2 56
26 do { 24 \ 9 5G | Raising track above backwater due to Isth=
Is ae |g A MSE ee eat aN 32 van Canal Commission work on Gatun
” | 24 am.
Dla eet GOS eta os { 39 \ 2 56 |
1 ‘
28 | Black Swamp...-. { ee ji 2 1,070 | Replaces fill which settled in swamp.
49 | Juan Grande....-. 118}. 2 236 | Juan Grande cut-off.
AQF GOLeOna ee 17 2 34 | Replace culvert blocked by Isthmian Canal
| Commission dump.
003) Bas Obispo. =.=. -- 105 | 2 210 | Isthmian Canal Commission diversion of
Obispo River. :
O1S) Miratlores =: 22222 -: 16 |, 2 32 | To drain water blocked by Isthmian Canal
Commission dump.
625) @Onozaly= 2 s 16 2 48 | To drain swamp for sanitary department,
Isthmian Canal Commission.
POUL A anaes ea 21 2, 051
Other bridges and trestles built July 1, 1907, to July 1, 1908.
Bridge Location. Length. Reason built.
No. :
Feet.
Hoses CUO DEA cis as si A eae as 75 | For Isthmian Canal Commission dump opposite Lirio
planing mill.
Gece CONOZA es ee ee 16 | For Isthmian Canal Commission third track.
G8iaikaee COs Ree Sees ae 16 Do.
aD) OC Keel Aiea Sees oe ee ee 150 | To place a track along front side of dock.
Cold storage (Cristobal) ..... 285 | For elevated loading track.
a Bocae eee eae 170 | Two main-line bridges on La Boca Branch, across Isth-
, mian Canal Commission drainage channel.
Total (7 bridges)....... 712

Bridge 44 across the Chagres River at Barbacoas has been strength-
ened to equal a Cooper E50 structure, by replacing the 3 north spans
over the river channel with three entirely new spans and by strength-
ening the 3 south spans of the old bridge. Both floor system and main
girders being weak in the old bridge, it was necessary to provide new



14 REPORT OF Tit PANAMA RAILROAD COMPANY.

floor beams and also to place steel bents under the middle of these

spans. As the Chagres floods will not admit of any obstruction in the

channel, only the 3 south or shore spans could be so strengthened.

New floor beams were placed in July and August, 3 new spans were in-

a in April, and steel bents were placed under the 3 old spans in
ay.

In Colon, quarters for 15 families have been constructed, 3 of
them being in new buildings and the remainder in remodeled buildings
_ formerly used as storehouse and stable. Five old houses have been
moved to new locations, entirely repaired, and new plumbing installed.
A new 4-room schoolhouse was built, occupying part of the site of the
old Colon terminal, which has been entirely torn down.

_ New roots have been constructed for docks 1, 2, and 4, Colon, and a
12-foot addition built on north side of dock 4; total cost of these dock
repairs, $38,014.90. :

Other work done in Colon includes building fences around docks 1,
2, and 4 to give greater security to freight, and building 2,000 feet of
riprap sea wall and 1,000 feet of concrete wall between the Colon light-
house and the quarantine hospital to protect the beach from the ac-
tion of storms. :

_In Cristobal a standard building for quarters for 4 families has been
built, a paint storehouse and a general storehouse, together with pine
racks, etc., constructed an addition made to the bakery and laundry
buildings, and the cold-storage plant enlarged by moving the offices to
a new building erected alongside, refrigerating the second floor and
building an additional ice-making room on first floor. The boiler and
engine rooms were also enlarged to provide power for the additional
refrigeration, and to provide space for the Colon electric-lLght machin-
ery, which will be consolidated with the cold-storage power plant.

The salesroom in Cristobal commissary has been completely
remodeled, and the upstairs, formerly occupied by post-office and
court room, made into offices and storeroom. A 40 by 50 three-story
addition has been built. :

New section houses have been built at Mount Hope, Bas Obispo,
and Pedro Micuel. The Gatun station building has been moved
back about 40 feet to clear excavation for Gatun Dam. In connection
with moving old Gatun village, a new church and parsonage have
been built. These, as well as the station work, were paid for by the
Isthmian Canal Commission.

Water cranes have been installed at Tabernilla and Matachin, a
new freight house built at Empire, and the old Miraflores station torn
down and moved 500 feet north.

In connection with the remodeling of Panama yard, the work done

by this department includes installng a new 60-foot turntable,
erecting a 21,000-gallon steel water tank and a water crane, and
constructing a double 30-foot cinder pit. - New buildings erected are
yardmaster’s office and dwelling, engine house, and addition to
machine shop and carpenter shop. The old freight houses have been
removed and reconstructed so as to make a house 42 by 540 feet, with

a shed addition extending the whole-length, covering two tracks on
one side and a team platform on the other side. This team platform
is on the east line of the new street which runs from Sixteenth street
to the passenger depot. The machine shop has been moved and



REPORT OF THE PANAMA RAILROAD COMPANY. eS

enlarged, and the engineer's quarters moved and repaired. The
passenger station has been remodeled to permit of a ticket-checking
system being used and a concrete platform built long enough to
accommodate the increased passenger train length. An 8-foot picket —
fence, 8,000 feet long, has been built around the entire yard to give
oreater security to freight and to cut down expense for watchmen.

CONSTRUCTION OF RELOCATED LINE.

The relocated line of the Panama Railroad was made necessary by
the plans of the Canal Commission for building an 85-foot level lock
canal. The old Panama Railroad will be used from Colon as far as
Mindi (5 miles), at which point the new location begins. From here
the Panama Railroad seeks its own location as far as Bas Obispo,
where it enters the Culebra Cut and is carried through this cut as far
as Pedro Miguel. From this point the line again finds its own loca-
tion and after passing through the Miraflores tunnel it connects with
the old Panama Railroad near the Cardenas River, a point near Coro-
zal. It is necessary to maintain the high level from Gatun to Pedro
Miguel, but after passing the lock site at Fedro Miguel the grade is
dropped about 30 feet, and after passing the tunnel of the ridge oppo-
site Miraflores locks the grade is dropped about. 40 feet to connect
with the old main line. The only grades, therefore, on the new line are
at either end; from Mindi to Gatun, where it rises practically from sea
level to elevation 95, and from Pedro Miguel to the old main line at
Cardenas River. The remainder of the road is practically a level
grade, 10 feet above the lake level. It is benched in on the side hills
on the eastern side of the Chagres Valley, from 2 to 3 miles from the
old Panama Railroad, on what will be the border of the Gatun Lake.
The relocated line is being built as a single track. ;

Construction work was begun in May and June of 1907, during which
time numerous connection tracks had been started from the operated
line to the relocated line to transfer men, equipment, and supplies
for grading purposes. During the months of July and August, 1907,
this work of preparation went on very rapidly. Many of the connec-
tion tracks were completed, and considerable grading was done at
certain points on the main line. In the latter part of August, how-
ever, orders were received to suspend operations, due to a lack of
appropriation for this work, and construction work on a general scale
was shut down. A definite policy was outlined to work only at the
following designated points, where the construction of the new line
would materially aid Canal Commission plans: |

1. From Mindi, through Gatun, to Tiger Hill, a distance of 44 miles. ©

2. At Gamboa, on the erection of the permanent steel bridge across
the Chagres River, at the northern end of the Culebra Cut.

3. Krom Gamboa north on the construction of, approximately, 2
miles of the relocated line.

4. At Miraflores, on the construction of the tunnel, and the two
large concrete arch culverts at Pedro Miguel and Caimitillo Rivers.

The construction of the relocated line at Gatun was necessary in
order to be able to vacate the old Panama Railroad tracks at that
point, which will interfere with the construction of the Gatun Dam.
The construction of the new Chagres River bridge and a few miles of



16 REPORT OF THE PANAMA RAILROAD COMPANY.

the line connection with it was necessary in order to furnish an outlet
from the Culebra Cut to numerous valleys along the line of the reloca-
tion, which will afford cheap dump grounds for excavated material
from the cut. In the relocation of the line, the Chagres River was
~ crossed at a point about 10 miles farther upstream than the old line
crossing at Barbacoas. This crossing is exactly at the northern
entrance to the Culebra Cut at Bas Obispo. Work on Miraflores
ae was continued, as time is the largest factor on such a piece of
work.

From Mindi to Tiger Hill, through Gatun.—From Mindi, where the
relocated line branches off, to the high level of 95 feet at Gatun
(2 miles) the road hes on the Colon side of the Gatun Dam. These
2 miles of permanent line were built during the year.

At the same time a temporary line (2.5 miles) was built through ~
what wil be the lake region, connecting the high level (95) with the
low grade (22) of the old main line at Tiger Hill. This temporary
line, however, was almost entirely embankment, and the line so
located that the yardage would not be lost, but would, in the end,
become a part of the permanent line. It was necessary to build some
of these embankments in two or three decks, due to their immense
height (85 feet), and the material used in most part was waste material . ~
from the Canal Commission.

This section of 44 miles is now finished and ready for operation.
A unique feature of the temporary part of this line is that one of the
old wrought-iron girder spans taken out of the main-line bridge at
Barbacoas was used across a shorter span at the Gatuncillo River.

In the construction of the temporary part of this line from Gatun to
Tiger Hill, it developed that the crossing of the valley of the Gatun-
cillo Kkiver was to prove a very difficult problem. From a point of
the Gatun hills to Tiger Hill, a distance of 6,500 feet, the relocated
line les on the bottom land on either side of the Gatuncillo Hiver.
The elevation of this ground is about 8 above sea level, and the original
plans were to build an earth embankment, 84 feet high, with a wide ©
top and flat side slopes, which figured to contain 4,250,000 cubic yards.
It was proposed to haul a great deal of this material from the Culebra
Cut. At the time the temporary trestle was started for making this
fill, soundings were made to determine the character of the bottom,
and it developed that there existed an upper crust of 25 feet of clay
and sands over very soft clay below, while solid rock was 200 feet
below the surface of the ground. The most serious thing is the nature
of this soft brown clay, filled with decomposed wood, which occupies
the space between the upper layer of hard clay and sand and the
solid bed rock.

It was decided at the time this report was made that it was neces-
sary to continue the construction of the temporary line from Gatun
to Tiger Hill to complete the connection between Mindi and Tiger
Hill, even though a permanent line could not be built. While work
on this temporary connection went forward, parties were put into
the field to seek a new location which would avoid crossing the
Gatuncillo Valley at the point mentioned. The surveys developed
the fact that (1) a very good line at Gatuncillo River crossing existed
direct from Mount Hope through Monte Lirio to Bohio, but which
would have the disadvantage of leaving Gatun on a spur line; (2) that



REPORT OF THE PANAMA RAILROAD COMPANY. iy

a line could be secured turning up the Gatun ridge and connecting
with the Mount Hope—Bohio line just mentioned. :

These lines were taken up and at the same time the construction
of a steel viaduct over the Gatuncillo Valley (in place of the immense
dump) was considered. The decision reached was, that the choice
lay between building a steel viaduct over the Gatuncillo bottoms on
the present line, or taking the new line up the Gatun ridge and cross-
ing the Gatuncillo River farther up, at Monte Lirio, on the hne as
located from Mount Hope. :

Later surveys now under way have developed the fact that it may
be possible to further improve this upper line, by making an entirely
different crossing of the Bohio Ridge, and the results of this survey
will decide the question of the crossing of the Gatuncillo Valley. _

The new Gamboa bridge.—The approved location for the new Gam-
boa bridge called for an opening of about 1,300 feet across the Chagres
Valley at the north end of Culebra Cut, and high enough to clear the

future elevation of Gatun Lake. The bridge is on a curve and con-
| ms at each end with a 40-foot beam along the east slope of the
canal. |

The general plans and specifications were completed July 9, 1907.
The bridge was designed for Cooper’s E-50 loading, and under the
specifications of the American Railway Engineering and Maintenance ~
of Way Association. It consists of a 200-foot riveted truss span of the
Warren type for the channel, and 14 80-foot through plate girder.
spans, of which 9 are on tangent, 1 on spiral, and 4 on a 6° curve.
The channel span is 17 feet between the center lines of trusses, and 34
feet between center lines of top and bottom chords, giving a lateral
clearance of 7 feet 3 inches from center of track and a vertical clearance
above top of rails of 22 feet 8inches. ‘The tangent girders are 15 feet
6 inches center line to center line of webs, giving a lateral clearance of
7 feet 1 inch from center of track, while the girders on the curve are 17
feet between center lines of webs, to give equal clearance for longest.
cars. To give an uninterrupted line of webs, a special span is intro-
duced at one end of the curve, with distance between centers of 15 feet
6 inches at one end and 17 feet at the other, the same as adjoining
girders. The other end of the curve is at the truss, where the wide
girders line with the trusses. ‘The least clearance between usual sur-
face of lake (elevation 85) and the steel is 9 feet, which will be
reduced to about 7 feet in time of flood. The total weight of steel is
1,105.12 tons, of which 206.6 are in the truss span and the remainder in
the 14 girder spans. . ae |

Bids were advertised for August 18, and the contract let August 28,
1907, to the Penn Bridge Company, of Beaver Falls, Pa., at $59,600,
New York delivery to begin February 1 and be completed April 1,
1908. This time was later extended one month by the contract. _

Foundations.—Diamond and wash drill borings had been made on —
the proposed site, which showed that it would be impracticable to
carry the foundations to solid rock except at the south abutment.
Piers and abutments were therefore designed, founded on grillage piles.
The masonry is machine-mixed broken stone concrete, using Rio
Grande superior rock, Panama beach sand,and Portland cement. The
mixture was 1, 2, 5, being especially rich because the sand used is not.
first class. Also, on account of the poor quality of sand, the rock was

S Doc, 682.602. 2 |



18° REPORT OF THE PANAMA RAILROAD COMPANY.

crushed to pass through a 14-inch ring and used “‘crusher run,’’ this
containing a large proportion of fine broken stone which furnished a
substitute for sand. The piers are heavily reinforced with old French
rail. All piers were built with a batter of 0.707 inch per foot. The
abutments were designed to be buried and have no batter. When the
Gatun Lake is flooded, all grillage piles will be far beneath the water
line, but as it will be some five or six years before this takes place,
creosoted piles only were used for foundation. : |

Erection.—A bridge had been built at this point by the French, of
which two spans, respectively 100 and 200 feet long, were still stand-
ing. Although too light for heavy traffic, they were valuable for con-
struction purposes. A temporary trestle was built from the north end
of the channel span of this bridge, 18-foot centers for the new bridge,
toa point beyond the north abutment. The south end of the 100-foot
span was connected with the track in Bas Obispo Cut. Over this
track and bridge all material for construction of the piers was handled,
and the trestle served in place of false work for the spans north of the
truss—that is, for 11 of the girder spans. In the construction of this
trestle 9,391 lineal feet of piles were used.

The first shipment of steel left the shops in Beaver Falls February
25, 1908, the last March 20. They arrived in Colon March 25 and
April 10, respectively. The girders were erected in the Gorgona
shops of the Isthmian Canal Commission and shipped to the bridge
site set up, ready for landing on the piers. The shop erection began
March 27 and was finished by May 27. To place the 3 girder spans
south of the river channel and to erect the truss, it was necessary
to drive false work from the south end. This had been done by
the time the first shipment arrived on the Isthmus, and on April 1
the erection of the truss span was begun. Work was pushed as
rapidly as possible, in order to get it in place before the rainy season
should endanger the false work. This was accomplished when the
span was.swung April 14. The false work was then cut off at water
level and removed. The girders for the spans north of the channel
were landed with two cranes, one of which stood on the temporary
trestle and one on the last completed span of the new bridge. Three,
and part of the time four, riveting gangs were kept at work and
practically all riveting was completed June 30, 1908. Painting of
the bridge will be deferred until the next dry season, all rust being
_ removed with wire brushes and a coat of oil having been applied

immediately after erection.

Summary of cost.

Cost of placing concrete in piers, 3,518 cubic yards, labor and material,

qUeplO.o+ DEMGUDIC WAR ee $68, 753) 038
Gostiol talse work: es 6, 855. 67
Cost olsteel and erection. =. 22.25 2 5k Se ae 83, 025. 04

jHandline olomisecllaneousmatenal:.- 2.2005). 2, 433. 40
@ost of Dard ware. 2-20 2 2, 226. 41
: , ; 163, 2938. 55.
_ This total cost may be further divided as follows:
DUDSEPUCHUNG oo e ee y $75, 608. 70

Superstructure...... Ee oe ee Se UL ee Boe ee 87, 684. 85
ee 163, 295. 55



Full Text
A eet
aaa
ae Wy

we

pone eer

Sor td

Peers
ea
5

Peay i
Dn Ba eer ytd
ey tn vege By

on Pee
Ch Lote at a!
Sareea

‘
a
bi ey
Oe



ae
a

eed ie ey
aay rh

at


a eee :
aN Sai

ee


fe Se tf
%








af



REPORT OF THE PANAMA RAILROAD COMPANY.

“MESSAGE

- ‘FROM THE

PRESIDENT we THE UNITED STATES

“TRANSMI DTING

THE FIFTY-SEVENTH ANNUAL REPORT OF THE BOARD OF
DIRECTORS OF THE PANAMA RAILROAD COMPANY, roe THE
YEAR ENDING J TUNE 30, AO0G:

J ANUARY Ge 1907. —Read, refetred to the Committee on Inters state an Foreign Com-

merce, and ordered to oe ae



Tt 0 the Senate and How of Revco

| ee
59rn Coneress, | HOUSH OF REPRESENTATWES. ee
_ 2d Session. \ : No. 415,
ee Fa

I transmit herewith, for the information of the Coneiee ihe fitty- |

- seventh annual report of the board of directors of the Panama oe

Company, ‘oF the year 7 ending June 30, 1906.

THEODORE Bocas.
THE Waite open Janiary 7 1907.

: Wak DEPARTMENT,
a a ? Washington, January 4, 7907.
My Dear Mr. Pee I beg to inclose you hee a com-
munication from Mr. Shonts, transmitting the fifty-seventh annual
report of the board of dir ectors of the Panama Railroad Company, for

the year ending June. 30, 1906, in order that you may transmit the
ae to Congress.

_ Very respectfully, yours, ia Wo. H. Tarr, a
Secretary of War.
The Prusipenr. |

en

ena D. Co | Jinan 2, 1907.

My Dear Mr. SECRETARY: I beg to transmit to you fee copy
of the fifty-seventh annual report of the board of directors of the

Panama Railroad Company for the year ending June 30, 1906.
2 REPORT OF THE PANAMA RAILROAD COMPANY.

All prior reports of the Panama Railroad have been made to cover
calendar years, but beginning with this report, in accordance with a
wish expressed by you, the same are to cover fiscal years ending June
30, to conform to governmental practice.

There is appended, however, a supplemental report, beginning on
page —, showing the results of the company’s operations from July 1
to October 31, 1906, in order that the annual report, which it is desired
be submitted in December, as are Boycrom on reports, may give the
latest available information.

Very truly, yours, .. EB. SHonrs,
Charman.
The SrcrerTary oF War.

FIFTY-SEVENTH ANNUAL REPORT OF THE BOARD OF DIRECTORS OF THE
PANAMA RAILROAD COMPANY TO THE STOCKHOLDERS FOR THE YEAR ENDING
JUNE 30, 1906.

Board of directors.—T. P. Shonts, Charles E. Magoon, Mordecai T. Endicott, Peter
©. Hains, B. M. Harrod, Oswald H. Ernst, William Nelson Cromwell, J. D. de
Obaldia, Clarence R. Edwards, Roger L. Farnham, E. A. Drake, John F, Stevens,
W. Leon Pepperman.

Huxecutive committee.—T. P. Shonts, W. Leon Pepperman, Charles HE. Magoon,
William Nelson Cromwell, John F. Stevens.

Officers.—T. P. Shonts, president, New York; John F. Stevens, vice-president,
Culebra; E. A. Drake, assistant to president, secretary and treasurer, New York;
W. G. Bierd, general manager, Colon; Sylvester Deming, assistant treasurer, New
York; T. H. Rossbottom, first assistant secretary, New York; EK. 8S. Benson, general
auditor, New York; John Adams, auditor, New York; H. L. Stuntz, acting local
auditor, Colon; R. L. Walker, traffic manager, New York; D. W. Ross, general pur-
chasing officer, New York; Alfred Anderson, assistant purchasing and shipping
officer, New York; Roland Allwork, inspecting engineer, New York; P. G. Baker,
master mechanic, Colon; R. Budd, engineer of maintenance of way, Colon; H. I.
Bawden, terminal superintendent, New York; Sullivan & Cromwell, general counsel,
New York.

General offices. —No. 24 State street, New York.

New Yorx, WVovember 1, 1906.
THE STOCKHOLDERS OF THE PANAMA RAILROAD COMPANY:

I respectfully submit for your consideration a report of the com-
pany’s financial condition and operation for the twelve months from
July 1, 1905, to June 30, 1906.

This report is the first submitted under a resolution adopted by the
board of directors at its meeting on the 2d day of April, 1906, by
which the fiscal year of the company was changed to date from J uly
1 instead of from January 1, to conform with the fiscal year of une
Treasury of the United States Government. |

This report, therefore, necessarily embodies, in addition to new
matter to be presented for the first six months of 1906, details of the
period from July 1, 1905, to December 31, 1905, already presented in
the report for the calendar year 1905.

I call attention to the accompanying exhibits, showing income and
profit and loss account, general balance sheet, and statistical tables
which will give } you detailed Intormation upon the financial aspects of
the company’s business.

Capital stock issue (unchanged)........-.-.- ee ee ee $7, 000, 000
REPORT OF THE PANAMA RAILROAD COMPANY. Oo

The present outstanding bond issues are:

Sinking fund 6 per cent subsidy bonds: :
Originalpissieiobe gs So Pa Pe i a ee bo, 000, 000
(For payment in advance of the annual subsidy of $225,000 to
the Republic of Panama. )



Iedeémed by aunual cinkingstiund drawings 92. -2 95.) 2 2 | 2, 467, 000
Outstandineiay this date. 925. 2.422.223). 20 ee 533, 000
Of these outstanding 100 were purchased out of earnings and are
Owned: Dy the Company -.2-..6.2.- 2: So ee a 100, 000
Leaving i i thepmhands Or tine puliG. = 325552228 oo 433, 000

Through the operation of the sinking fund this indebtedness will be
redeemed in 1908.
First mortgage 43 per cent twenty-year gold bonds:

Authorized cone Ob a ee es 4,000, 000
Eleldeby the public. 3222252 2822 eee $9, 151, 000
Redeemed by annual sinking-fund drawings ..-..-.-.---.- il 121, 000
Feld im companys treasury. 22-3. 6 2 ee ae 628, 000
7 ——_—————__ 4, 000, 000

Through the operation of the sinking fund this indebtedness will be reduced by
1917, the due date of the mortgage, to $1,199,000. It is the only mortgage lien upon
_ the company’s property.

The result of the company’s operations for the period covered by
this report shows that after the payment of cost of operation and all
fixed charges there remained net earnings of $322,881.34, which has
been used for improvements and construction, the expenditures there-
for during this fiscal year, as shown by Exhibit F, amounting to
$1,003,273.06. |

During the fiscal year there was bomacd from the United States
Government $450,000, all of which was expended, in addition to the
net earnings, for improvements and construction.

Gross revenue receipts, expenditures, and net earnin gs for twelve months ending June 80,
1906, compare, as under, with those of the twelve months ending June 80, 1905.





: Earnings over
Earnings. Op ores &X- | operating ex-
Pp penses.
1006s ee -.--| $3, 917, 840.28 | $8,116. 059. 01 $801, 781.27
OO Dee NS NE ONS oss IN ig AN ee oh ean eee s 3, 574, 671. 85 2, 337, 588. 44 1, 237, 188. 41
IMCREASCIMELOOO es ceca eee es coe Reece 343, 168. 43 118; O20 500 eee ee aes
DeCrense tI O0Gis sas ss eee a eS Sea es eo Eee eee eee 435, 357.14

The serious decrease in earnings over operating expenses in 1905-6
as compared with 1904-5, despite the notable increase in the number
of tons of cargo hauled ‘and passengers carried, as shown below, is
explained by important concessions in rates for both classes of traflic
made by executive direction.

EARNINGS.
RAILROAD.
The total earnings of the railroad for the transportation of all

kinds of traffic show an increase of $311,990.06, or 18.81 per cent over
twelve months of previous year. Of this increase in revenue,

/
4 REPORT OF THE PANAMA RAILROAD COMPANY.

$228, 298.16 was derived from merchandise and coal freight, $224,834.08
being increase on westbound business and $3,394.08 increase on east-
bound business. Passenger earnings increased $64,274.90 and mail
earnings increased $13,991.99.

Freight traffic from New York and New Orleans to south Pacific
ports increased 2,797 tons; to Panama 3,719 tons, and to Central Amer-
ica and Mexico there was a decrease of 954 tons. Krom Kurope to ~
Central America and Mexico there was an increase of 2,621 tons and
to south Pacific ports an increase of 4,110.

The decrease in tonnage from Central America and Mexico to
Europe was 7,826 tons, and from south Pacific ports to Europe 6,897
tons.

The following table shows the freight tonnage carried over the rail-
road for twelve months ending June 30, 1906, including company
freight, as compared with the twelve months ending June 30, 1905:











Twelve months ending June 30. ~ 1906. 1905. Increase.
aTons. aTons. | Per cent.
Carried westbound eee ees ein en rao nines aa niece cow ere ee 409,890 | 801,171 36. 10
Carried: eastbound. 52 ss ee Be Sen ee ets ee ee ie i 255, 821 | 181, 091 41, 27
otal west and eastbound 22. = 22225 222s: ge 665, 711 | 482, 262 38.04 —

a Ton of 2,000 pounds or 40 cubic feet.

The gross earnings per ton moved on the road compare as follows:









Twelve months ending June 80. ~ 1906. 1905. |Decrease.

Per cent.
SVAFESUI OUT Cistiecetire SSO eee Ae a kiana ee tei Sram ee REN os ota $e. 03 $3. 53 14,16
HAS UOO UI Cie ee eee ed ee aia fy Siar veya aise erase Same vee ieee 2.32 3.15 26.35
MVCTAS eR West and CasbbOUM Cia. 285 oes se es aU ee eee ee 2.76 3.38 18. 34

Exhibit L, accompanying this report, shows the origin and destina-
tion of the fr eight carried over the railroad.

The total revenue freight traffic of the railroad during the twelve
months ending June 30, including both merchandise and coal, was
622,274 tons, an increase of 181 ,088 tons, or 41.24 per cent. The ‘total
revenue derived from this traffic was ‘$1, 718,389.68, an increase of
$228,298.16, or 15.32 per cent.

In addition to the above freight, 48,4387 tons of company’s freight
and 1,794 tons of mails and excess bageage were hauled.

Of the total freight tonnage carried, 61.57 per cent was westbound
and 38.43 per cent eastbound. In 1905 the percentages were 62.45
per cent and 37.55 per cent, respectively.

The through traftic was 50.83 per cent of the total tonnage handled,

as against 72.57 per cent for twelve months ending June 30, 1905. |

Coal (including company’s) comprised 87.98 per cent of the local
traffic westbound. 7

The following statements show the number of passengers carried
one the passenger earnings:
REPORT OF THE PANAMA RAILROAD COMPANY. 5)

Number of passengers carried and passenger earnings.

a nn sn









Number of passengers carried. Passenger earnings.
Classification. ee seen fe S|
1906. 1905. | Increase. 1906. 1905. | Increase.
Per cent. Per cent.
First-class passengers .............-.- 125, 780 49, 089 156.49 | $93, 974.51 | $60,375.09 | - 55.65
Second-class passengers.............- 322,450 | 168, 891 90.92 | 106,172.41 | '75, 496.938 40, 68
Motels se eee soe eR eee 448 1230) I 217930 105. 68 | 200, 146.92 | 135, 872. 02 AT, 31
Average receipt per passenger.
Classification ode. | 1005. | oc
: aes * | erease.
First-class passengers: ; Per ct.
CT QUIS la ses iis ie Meio EE eee i en ee TROY Pere eatin Cictais wir crete eiee ale ces $4.35 | $6.'78 35. 36
TOC ally eee ence Sere sie ears Ai Moe a epeerero ioe fetes ais ciie gree iets & cie ee .09 . 76 22.38
Second-class passengers:
ETO UGS eters eerie ee are is Sioa meet areata sa a revole ce meer Re cise iatahe ee 4, 45 4,68 4,91
DFO CB ees 02) ere a SO Gee Os a capes emia ee nce Ses Sota aan lade eeatrar eee Ol ~39 20. 51

The gross revenue from the transportation of passengers was
$200,146.92, an increase of $64,274.90, or 47.31 per cent, while the
number of passengers carried show an increase of 230, 300, or 105.68
per cent.

The revenue received from thr ough passengers decreased $6,268.79,
or 17.14 per cent, and the number of passengers increased 790, or
12.87 per cent, as compared with the twelve months ending June 30,
1905. © In February, 1905, the through rate of first-class passengers
was reduced from $10 to $6.50 and for second-class passengers trom
0 to $4.50, thus accounting for the decrease in earnings as compared
with increase in number of | passengers carried.

Local passengers show an increase of $70,543.69 in revenue, or 71.05
per cent, and 229,510 in number carried, or 108.36 per cent. This
large increase is. due to resumption of work on canal. |

STEAMSHIP LINE.

The total earnings of the company’s steamship line were 61,347,012.25,
an increase of $31,178.37, or 2.37 per cent, over the twelve months
ending June 30, 1906.

Freight tr attic decreased 18 ATT tons , or 8.52 per cent, and the reve-
nue therefrom decreased $72, 716. 25, or 7.89 per cent.

Passengers show an increase of A, 151 in number carried, or 58.47
per cent, and an increase in earnings of $53,927.57, or 20. 56 per cent.

The increase in revenue from the transportation of mails was
$46,048.36, or 41.83 per cent.

Of the total tonnage transported 97,472 tons were carried by the
company’s steamers and 100,820 tons by chartered steamers. In the
twelve months ending June 80, 1905, the former carried 118, 001 tons
and the latter 98,768 tons.

MICELLANEOUS RATLROAD RECEIPTS.

The total receipts of the several accounts grouped together under
this heading amounted to $503,018.92, an increase of $2,730.14, or 0.55
per cent, over twelve months ending June 30, 1905.
6 REPORT OF THE PANAMA RATLROAD COMPANY. —

The receipts for wharftage at Panama and La Boca and lighterage of
cargo in Panama Bay, which are included above, show an increase of
$12,375.18.
. EXPENDITURES.

Operating expenses for the twelve months ending June 30, 1906 and 1905.











1906. 1905. Increase.
SEU SR TILT) EUG es ses aaa nee et SENS TE SNE Ga Same eee See $1, 781, 888.55 |$1, 178, 945.05 | $552, 948. 50
UCAS TNT ella Chere se ee SecA RE ee eee, aes erate 1, 384, 170. 46 | 1,158, 588.39 | 225, 582. 07
DOVE ee oa ss BHA Sea ON ss COR eS AMIE AES ee aDrae naD 3 116, 059 OL | 2, 387,588.44 | 778, 520. 57

This table shows an increase of $778,525.57 in total operating
expenses, while there was an increase in total earnings of $343,168.48
(see pp. — and —).

RAILROAD.

CONDUCTING TRANSPORTATION.

The expenses of this department, compared with the twelve months
ending June 30, 1905, show an increase of $358,439.21 or 64.44 per
cent, while the total tonnage moved increased 183,449 tons or 38.04
per cent. .

It should be noted that this report includes the period in 1905 dur-
ing which the serious interruption of traffic occurred as a result of
_ strict quarantine measures temporarily inaugurated at Panama, which
resulted in an enormous accumulation of cargo at our terminals, and
rendered necessary an enormous expense of money and labor to restore
normal conditions. : Je )

The important increase in cost of conducting transportation is fur-
ther accounted for by the operation of heavier equipment installed,
higher prices for labor and supplies, and the added expense incident
to handling an increase of 38 per cent in the aggregate tonnage both
ways over the railroad, which required an almost unprecedented num-
ber of train movements over a road less than 50 miles in length.

“For some time past it has been necessary to run freight trains over
the road at night only, so as to allow the passenger and construction
trains of both the railroad and the Commission the advantage of day-

light in their operations. :

MAINTENANCE OF EQUIPMENT.

The total charges or expenses under this heading amounted to
138,557.51, a decrease of $2,473.43, or 1.75 per cent, as compared with
the twelve months ending June 30, 1905. |

Under the plans and contracts referred to in the company’s report
for the first ten months of 1905, there has been received at the Isthmus,
the following equipment: | | e
Standard 80-ton locomotives, which have been set up and are now in use.._-_--- 24
ay passes! cars, of which 2 are completed and 4 in various stages of con-

SSGISU CULO ieee te ee cei Sar ea te ake a power ee canes a abate tS Vos sama tagy oy Sune en eC auaE eee

Forty-ton capacity box cars, of which 216 are erected and now in use, 229 re-
- quire sixty days for completion, and 55 to be received to complete the original

Onder tor 00022 22 es Ae a ee 445
>] RelmoeratOrcarss 525-228 3 oe Beene Ae eae 0
lean wreckineCranes 9-222 oe a ee 2

Pile: (iiversc.8 5 2 a alt
REPORT OF THE PANAMA RAILROAD COMPANY. 4

In addition arrangements have been made for the transfer from the
Isthmian Canal Commission of 15 flat cars, at a cost of $1,016 each, to
be converted into stock cars.

Contracts have been entered into for the construction of 100 ballast
cars, at $1,560 each; 2 plow discharging cars, at $1,370 each, and 3
first-class and 10 second-class passenger cars and 4 combination bag-
gage and mail cars, at a cost of $121,584.

The ballast cars are required in connection with the double tracking
of the road and to assist in the disposal of the waste material from
canal work. ‘The passenger coaches are required, to add to those
already received on the Isthmus, to meet the increase in passenger
traffic due to canal operations.

The directors have established an ‘*‘Kquipment account” on the
books of the company, placing to the debit thereof the estimated value
of old railroad equipment on the Isthmus and cost of such new equip-
ment as has been or may be purchased from time to time, writing off
to ** Profit and loss account” the difference between the estimated value
of such old equipment and the cost, as shown by the company’s books.

Thus, notwithstanding the notable failure of equipment companies
to live up to their contracts , by which new heavy rolling stock ordered
has been and is being slowly received, the road at the present time is
fairly easy in the matter of equipment.

MAINTENANCE OF WAY AND STRUCTURES.

The track, bridges, and all structures have been maintained in first-
class condition, at an expenditure of $300, 979.29, an increase of
$142,642.10, or 90.9 per cent.

The relaying of new 70-pound steel rails on the main line has been
continued, thus replacing the light worn rails, frogs, switches, etc.,
for a total of 30 miles.

Old side tracks have been rebuilt of new material throughout, and
many new ones constructed.

In previous reports I have referred to the necessity for double track-
ing certain portions of the road in order to provide for the company’s
increasing traffic. ‘That work has progressed as rapidly as practicable,
and, because it was undertaken, in the main, for the benefit of canal
construction, arrangements have been made by which the Isthmian
Canal Commission assumes a large part of the outlay.

Of 35 miles of double tracking contemplated, that is—



Brom Gatun to Camacho <2) 22 en ee 29
Krom: Bedro Miguel to Ranama oi. ,.255 22. i ee 6
SGI ee 30
There have been completed and ready for use...-........-.-....--------.-- 8
acrracks laidcand: ready-tor ballast}: 25.058) ee ee ee Oat
Double track filled, nearly completed, but no tracks laid........-...- oe 11.13

Forty-two out of 62 main-line bridges have been strengthened | or en-—
tirely rebuilt to meet the requirements of new heavy equipment.

Twenty-one bridges were extended for double-track purposes to a
total leneth of 1,7274 linear feet.

One hundred and nineteen new culverts for double track, consisting
of pipe, concrete, and I-beam construction, of a total lenoth of 3,169
linear feet, have been installed.
5S _ REPORT OF THE PANAMA RAILROAD COMPANY.

Two extensions have been made to the company’s wharf No. 4, at
Colon. The Isthmian Canal Commission’s wharves Nos. 11 and 14, at,
Cristobal, extended and rebuilt, and their two new wharves constructed
at La Boca on the Pacific side, have been turned over under lease to
the railroad company to maintain and operate, giving in all anadditional —
on space of 193,936 square feet, equivalent to berthing capacity for

9 ships.

Mt Colon of buildings constructed, a new third story has been added
to the company’s Washington Hotel, a temporary refrigerating plant
with machinery has been installed, and pump stations established at
Kighth and Eleventh streets.

At Cristobal there have been constructed a 21-stall roundhouse, a
20-pocket coal chute, a machine shop transfer table, a turntable, a
50,000-gallon water tank, a standard water crane, 4 new machanics’
quarters, 1 family quarters, 9 laborers’ quarters, and an extension to
the company’s commissary, with interior improvements..

A large cantilever crane, for handling heavy shipments, has been
erected at a total cost of $31, 156.71, and a new coal hoisting plant, to
cost 675,309.45, was 75 per cent completed; both on wharf No. 14.

Along the line of road there has been erected a new 50,000-gallon |
water tank, at Frijoles. At Camacho, Culebra, Las Cascades, and
Frijoles new passenger and freight stations have been constructed, and
others are to be built along the line as needed.

At Panama 4 buildings for quarters have been erected, and at La ~
Boca a new freight office and a large building for quarters for single
employees.

The new terminal and switching yard of 600 cars capacity at Cris-
tobal was completed, and a new yard at La Boca of 600 cars capacity
was 60 per cent completed.

A new 12-wire telegraph and telephone line has been fully com- —
pleted, and station agents and operators have been installed.

STEAMSHIP LINE.

The operating expenses of fhe enn line were $1,384, 170.46,
an increase of $225,582.07, or 19.47 per cent, over the previous year.
_ Following the recovery during the last days of 1905 from the damag-
ing effect of the rigid quarantine temporarily established at Panama,
effected by our forwarding large accumulations of cargo at the Isthmus
which our cocarriers had been debarred from receiving, the business
of the steamship line was, in the first six months of 1906, seriously
impaired by the earthquake in San Francisco, as a result of which
trafic between that port and New York via the Isthmus was practi-
cally brought to a standstill (that traffic in the previous year consti-
tuted 80.68 per cent of the tonnage transported by the steamship line
between New York and Colon, both ways), and further by division,
with two foreign lines admitted to connection with the road at Colon,
of business to and from the Isthmus and of through traflic to and from
points beyond on the Pacific, which tended to mater ially decrease the
earnings of the line.

The increase of 19.47 per cent in the expense of operating the line
is accounted for generally by prevailing higher prices for labor and
material and by the larger cost incident to operating two additional
vessels of greater speed and capacity, the principal items being custom-
REPORT OF THE PANAMA RAILROAD COMPANY. 9

house and port charges, fuel, feeding passengers and crew, labor on
cargo and coal, repairs to engine department, wages and insurance, all
of which show material increases. _

As yet no steps have been taken to enlarge the terminal facilities of
the line at New York, but owing to the ‘material improvements at
Colon the steamship business at that point is handled at a cost, con-
sidering labor conditions that is not equaled, and at a rate of speed
that is not exceeded by any port in the world. | |

In my report for the first ten months of 1905 I referred to having
secured for our line, on long-term charters, from the Isthmian Canal
Commission, the steamships Mexico and Havana. The large capacity
and speed of those vessels has materially assisted in the prompt
movement of trafic. They have been renamed Colon and Fanama,
respectively. —

A ~ depreciation fund” for steamers and tugs has been opened on
the company’s books, which is credited each month with a fixed pro-
portion of their book value (6 per cent in case of steamers and 10 per
cent in case of tugs and lighters), offset by a charge to ‘‘ operating
expenses.”

MISCHLLANEOUS RAILROAD EXPENSES.

The combined expenditures under this head, which include lighter-
age, docks and wharves, real estate, etc., amounted to 9202, 28 6.86, an
increase of $19,027.73, or 8.16 per cent. |

GENERAL REMARKS.

During the period from January i, 1894, to June 30, 1906, inclusive,
the percentage of total expenses to gross earnings was as follows:

Per cent.
SOAS a Ge ee ee es 69. 93
SOD Re es ore es Se ee 61. 63
SOO eS re ee a ee 53. 94
1897 (including taxes and appropriations for depreciaion CLC) ae ee 61. 12
1898 (including taxes and appropriations for depreciation, etc.)...-......-.-. 64.91
1899 (including taxes and appropriations for depreciation, etc.)-....--------- 64. 66
1900 (including taxes and appropriations for depreciation, etc.)....-...--..-- 69. 25
1901 { (including taxes and appropriations for depreciation, etc.) ....-.-.-.-- 64. 72
(or including Eaciic lnemot Operated 1m 1900) > 6 76. 34
1902 | (including taxes and appropriations for depreciation, etc.) ......--.-- . 65. 87
(or including Pacific line operated for six months) .-............-...- 71. 02
1903 (including appropriations for depreciation and special repairs) ..-.-.--- 66. O1
_ 1904 (including appropriations for depreciation and special repairs) -..-...-- 63. 69
1905 (including appropriations for depreciation and special repairs) ..---.--. 77.49
1906, June 30 (including appropriations for Eee and special repairs)
cwolve months 92 54

The monthly charge, « on the basis of half rates, made to the Isthmian
Canal Commission, for the transportation of its officials and employees
over the railroad, was advanced to $5,000 on November I last.

A revocable license has been eranted to the Union Oil Company, of
California, to lay a pipe line across the Isthmus, along the company’s
line of road, for the transportation of oil from the Pacific to the
Atlantic side. Its installation is rapidly approaching completion.

Through a new interpretation of the scope of Article XX of the
company’s contract of concession, which has been mutually agreed to
between the parties concerned, it ‘has been provided that half rates be
10 REPORT OF THE PANAMA RAILROAD COMPANY.

hereafter extended to all products of Panamanian origin, whether
natural or manufactured.

It is expected that the company’s new coal-handling plant at Cr isto-
bal, already referred to as being 75 per cent completed, will be finished
| before the end of 1906; and will provide for such discharge of colliers
employed to tr ansport coal to the Isthmus for Commission and rail-
road consumption as will effect a material reduction in cost of fuel
delivered at the Isthmus, and will permit of the necessary accumula-
tion of a stock on hand, which, because of rapid consumption, the old
method of handling has not allowed.

_ In view of the common ownership by the United States Government
of the property of the Isthmian Canal Commission and of the Panama
Railroad Company, it has been arranged, by mutual agreements
between them, so that each performs work for the other at exact cost,

plus a reasonable profit for handling, depreciation, etc. In line with
this practice the products of the electric light and ice plants of the
company have been sold to the Commission and the employ ees of the
Commission and of the railroad company at a slight increase over
cost.

The company’s water plant at Colon has been turned over to the
Commission to operate in connection with the large new plant recently
installed by the latter on the Isthmus, in return for which it is arranged
that the railroad company is to be supplied its requirements of water
at a reasonable price.

Large new machine shops at Cristobal, constructed by the Isthmian
‘Canal Commission, have been turned over to the railroad company,
under lease, to maintain and operate at an annual rental of 4 per cent
upon the cost of construction.

The facilities of the railroad company are very materially increased
in efficiency by these transfers. |

I can, perhaps, best illustrate the conditions which previously existed
and the obstacles which were met and overcome by the company’s offi-
cials during the past fiscal year by quoting liberally from a letter re-
cently received from Vice-President Stevens on the subject in which,
referring to the physical status of the railroad company’s plant on the
Isthmus at the close of the preceding fiscal year, be says:

The Panama Railroad Company had practically nothing more than a right of way
with a fair roadbed which had, however, already proven unequal to the heavy traffic
it was called upon to bear.

Its rolling stock was limited in quantity, small in capacity, and of antiquated type
and entirely unsuited to the demands put uponit. It had not the requisite sidings *
either for handling through or local business, and those that were in existence were
at the end of their lives and had to be rebuilt.

From Colon to Panama there was not a single station building which was adequate
to the requirements of the service, and not to exceed two telegraph operators between
terminals, with no telegraph lines over which a train order could be sent with any

certainty that it would reach destination inside of twenty-four hours.

Its ocean terminals were neither commodious, well arranged, nor had they been
maintained in a sate condition.

The personnel of the road, while in the main consisting of well-meaning parties,
had grown up under conditions which, instead of inducing deyeTopmecnay and progress
had practically kept it at a standstill for years.

The throwing upon the road of the immense amount of back business which resulted
from the occupancy of the Zone by the United States and the commencement of the
work of preparation for building the Panama Canal made the railroad proposition
an almost impossible and disheartening one from the start,.it being necessary in every
department, without one single exception, to build from the eround up to get the

property in shape, while handling not only the current affairs, but disposing of the
vast amount of business which had been delayed, owing to various causes, for months.
REPORT OF THE PANAMA RAILROAD COMPANY. lol

The work of reorganization and reconstruction and the carrying on of the current
business, as well as catching up the past, has been conducted during the past fiscal

ear. |
: The ocean terminals have been more than trebled, and terminal yards, with all
needed accessories, have been constructed, so that we can now point to the fact that
business in the port of Colon over the company’s docks is handled at a cost, consider-
ing the local labor conditions, which is unequaled and at a rate of speed that is not
exceeded by any port in the world.

In fact, the handling of cargo across the docks at Colon is being done quicker and
with less trouble than cargoes are handled over the docks in New York City.

Mr. Stevens, after specifically referring to the important improve-
ments, additions to equipment and a uction, elsewhere referred to
herein, further says as follows:

In general, the Panama Railroad is rapidly emerging from a road suited, perhaps,
for a period of twenty or thirty years ago into a fully equipped, up-to- date railroad
fitted to handle, under the most perplexing and expensive conditions, a large and
constantly increasing modern trafiic.

It would take up too much space to here go into all the details, as only those who
are familiar with the whole situation can appreciate the conditions existing when
the present management took charge of the property, and make a fair comparison
between them and the condition in which itis now with what has been accomplished
during the past twelve months.

The business of the railroad is growing and additions must be made to its facili-
ties; more tracks must be laid, and it is a grave question whether a large mileage of
the road must not be provided with a third and fourth track. New equipment must
be purchased, as the old freight and passenger equipment must be relegated to the
scrap heap as soon as new can be provided.

While much remains to be done, the work of the past year has demonstrated that
the Panama Railroad can, by pursuing the present policy, be made to handle
economically and successfully all the business which is in sight for it to handle.

In fact, during the past six months the only difficulty it has experienced in han-
dling traffic has been from the inability of certain ot its Pacific connections to take
the business as fast as 1t was offered to them.

The Panama Railroad is a peculiar proposition, in the sense that it is a switching
yard from one end to the other. Even its passenger trains must. be handled more
as a suburban proposition than as through trains, and only men who are accus-
tomed to handling trains under such conditions can appreciate what the proposition
really is.

At the annual election held in April, 1906, Mr. John F. Stevens
was elected a director of the company to succeed Mr. John F. Wallace,
who had resigned; and Mr. W. Leon Pepperman was elected a director
of the company in place of Mr. William Barclay Parsons, who had
expressed a desire to retire from the directorate of the company.

Mr. Stevens was also elected vice-president and general manager,
and Mr. W.G. Bierd was elected superintendent. Later in the year,
however, Mr. Stevens expressing a wish to be relieved from the duties
of general manager, Mr. Bierd was delegated to that office.

Respecttully submitted.

T. P. SHonts, President.

PANAMA RAILROAD COMPANY,
ACCOUNTING DEPARTMENT,
New York, N. ¥., October 17, 1906.

Duar Str: I herewith submit statements of income account, gen-
eral balance sheet, and tables showing results of operations for twelve
months ending June 30, 1906, as follows:

A.—Income account and profit and loss account for six months ending June 30,
1906.

A. A. Tpeome account and prone and loss account for twelve months ending

J une 30, 1906.
B.—General balance sheet.
12 REPORT OF THE PANAMA RAILROAD COMPANY.

C.—Statement of earnings and expenses for twelve months ending June 30, 1906
and 1905.

D.—Statement of operating expenses of railroad for twelve months ending June
30, 1906 and 1905.

E.—Statement. of operating expenses of steamship line for twelve months ending
June 30, 1906 and 1905.

F.—Statement of expenditures for improvements and Concrmenon for twelve
months ending June 30, 1906.

G.—Statement of steamer and tug depreciation account.

H.—Statement of classified railroad earnings, tonnage and passengers, Colon to
ae and Panama to Colon.

I.—Statement of railroad freight statistics for twelve months ending June 30, 1906.
J.—Statement of railroad passenger statistics for twelve months ending June 30, 1906.
K.—Statement of railroad general statistics for twelve months ending June 30, 1906.
L.—Statement of railroad freight tonnage handled.

M.—Statement of steamship statistics for twelve months ending June 30, 1906.
N.—Statement of locomotive and car equipment.
O.—Statement of floating equipment.

In view of the change in the company’s ; fiscal year from December
81 to June 30, and the last published annual report being for year
ending December 31, 1905, I have submitted two statements of income
and profit and loss accounts, one for six months ending June 30, 1906,
and one for twelve months ending June 30, 1906. |

In December next the following tables, showing the results of opera-
tions for the four months ending October 31, 1906, will be prepared
and published as a supplement to this annual report, Viz:

P.—Income account and profit and loss account for four months ending October
ol, 1906.

Q. —General balance sheet, October 31, 1906.

R.—Summary of earnings ‘and expenses for four months ending October dl, 1906
and 1905.

S.
Panama and Panama to Colon, for four months ending October 81, 1906 and 1905.

T.—Statement of steamship ‘statistics for four monubs ending October. ol, 1906 and.
1905.



Yours, very truly, : _E. S. BEnson,
< 7 General Auditor.
Mr. T. P. SHonts,
President Panama Railroad Company,
Qh State street, New York Cot

Exauusir A. —Income account and profit and loss account ors six months ending June 80,



| L906:
INCOME ACCOUNT.
Railroad:
GROSSE ALAIN SeorOM! ODECLA TOM soos sce ee ae wee a rae re eee ¢..| $1, 488, 242. 00
Operating GID CTIS CS seerse eee oe a Nee ie Seas Sak Cer aimee ee mia 858. We 11
Netearniines sinOmM OP CratlOn cs soe sas oc use eee eae ne oie ae eee ee ecu $585, 037. 89
Steamship line:
CTROSHeATMIM Se SanOMeOPeTATON: set s2 2. Se ae Se ee eine cece marae ae 692, 372. 88
@POLATIN See x PCNSCS Stance s sore ts Ss ee nee rattan 678, 479.17
INGpeCanmMine strom OperablONa.62- 2s. c.co asec eed se ents etre epee | crea oes Rea craigs 18, 898. 66

Add income from—
Difference between contract rate of interest, 8 per cent, and interest
on 45 per cent bonds, sold to prepay indebtedness due (in 1905) con-
tractor, Hew. venmuinaleat Was Boca se ee 514. 33
s Interest and OX CAMS Cis ease eset Ole int urs ow rence see eee $420, 94
ess—
Tnterest Oct. 1, 1905, to Jan. 8, 1906, on 22 Panama Railroad
Company 4% per cent bonds repurchased from Mackey & Co. 255.75

Se eS 679. 52

Total income ........-- ee Cl ae .| 699, 611.07
REPORT OF THE PANAMA RAILROAD COMPANY. 13

Exuipir A.—Income account and profit and loss account for six months ending June 30,
1906— Continued.

/



INCOME ACCOUNT—continued.

Less—
Interest on funded*debt: First mortgage 44 per cent ponds “Interest
Oni p2;2(2;000 Jani, 1906s co dume dO 19068 62.2 ee ee Pol, 120. 00
Interest OMlOnus eset ee ee 4,785. 76
HMiTsthanorteage sinalkeim os; MIM eeepc ace ce ss eis iin era ae 75, 000. 00
Concessionary subsidy to United States Government under treaty..... 12, 500. 00

Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds, 533 bonds, Jan. 1, 1906, to



JAMO O OOS oes epic ne ea mee 0 Aah $15, 990. 00
Redemption Ol SubsidiysbOnGStea eee tae ee soe 96, 510. 00
——-——| 112,500.00
Drawback on Colombian and Panamanian produce ...................- 1,342. 55
——. ——| $247, 248. 81
Neti INCOME LOL SixemMOnbMGes 5). ase eee a nen Lace S| pe eee ee a pee 342, 862, 76





PROFIT AND LOSS ACCOUNT.

By balance to credit of profit and loss Dec. 31, 1905.-..................- ae Aes Betas otenier a 4,851, 712.12
Surplus from income account for six months CnGdim sy ume BO a1 906 pea ee ee eee 342, 362. 76
Saleot tus Ancomand three old hghters <2) | ee 275. 00
Adjustment of freight accounts for coffee shipments, season 1904-5 .....]..........-.... 4, 030. 61
Adjustment of freight accounts for through business to Dec. 81, 1905....|...-....-... ---| 12,468.61

5, 210, 849. 10
Less—
The difference between book value of locomotive and car equipment, ae
as of date Dec. 31,1905, and inventory value written off June 380, 1906. 121, 315. 04
Sundry accounts written OEE STC see oe Shes ON Sas Raa ee 944, 25
——__—_—_—_——_|_ 122, 259, 29



_—_—

By balance to credit of DLOnt AMG OSs; UMC S07 IOGear eee eee ce 5, 088, 589. 81

'

Exureir AA.—Income account and profit and loss account for twelve months ending June
30, 1906.

INCOME ACCOUNT.





Railroad:
GrossicarninestroOmlOperatiONGs (usa te cts os seca cee ee oe #2, 570, 828. 08
Operating expensessce chee tse es woe oe eas ge onan alae a acne 1, 781, 888. 55
Neiearnings Tromlopentabvlouies- 2.2.5 -.este- cc ces se cae es Vavaia sitet araye etal e allicre ore eect vat pve ctate $838, 939. 48
Steamship line:
p Grosssearnin ss rOm OPCLatlOMeacs 5 2 2 ose oon occas ee eee 1, 347, 012. 25
OPeralin se OxPeNsesy2 ae soe eee sce eee ee AS eS pe eeity ee ens SR aoe es 1, 384, 170. 46
Net OSS HromyOPeratlOMei Heo ees eo access ecto toe a ein ee cuca rarer ae ae ee 37, 158. 21
801, 781. 27
Add income from— —
IMbereSG ONY SCCUTITICS OWMCC a oe eta. Ae Ss ees oe 5, 488. 75
Premium and interest on treasury bonds drawn for redemption....... 1, 377, 50
Difference between contract rate of interest, 3 per cent, and interest
on 43 per cent bonds sold to prepay indebtedness due (in ae con-
tractor news vermin aliat WaBOChig cs csso roe Ve eect os eo cumeeses 6, 769. 87
18, 686. 12
: Interest and exchange......... Become ee eager $11, 371. 57
ess—
Interest Oct. 1, 1905, to Nov. 27, 1905, on 606, and
Oct. 1, 1900, to Jan. 3, 1906, on 22s Panama Rail-
road 42 per cent bonds repurchased from Mackey
Ol COM a en nan onc o ie iia e ie ance eres a8 $6, 846. 00
ENGETeStOnNs1OMNSe ts ee ao oc sce ee eee ches 4, 785, 76
——_——._ 11, 631. 76
———_—_ a 260. 19
— ——| 18,375.93
PRO Ga LTT C OMCs ese aoe ese ws teces cea Seta rermeratete a aero a CODE aio ata gic Siac atals wis ees aim wie isiele ei eeievele 815, 157, 20
Less—
Interest on funded debt first mortgage 44 per cent bonds—
Interest on $2,272,000, July 1, 1905, to J UME BO SLOVG ke eee oes 102, 240. 00
Interest Apr. 1, 1905, to June 30, 1905, on 121 bonds drawn for
redemption and paid by trustees in October, NOOB Hs ees 1, 361. 25
100, 878.75
Kinshmorteace simkine fun Ges rere ce ete eo ce mec eincceas cates 150, 000. 00
Concessionary subsidy to United States Government under treaty..... 25, 000. 00

a Debit.
14

REPORT OF THE PANAMA RAILROAD COMPANY.

Exuisir AA.—Income account and profit and loss account for twelve months ending June

80, 1906—Continued.

INCOME ACCOUNT—continued.
Less— ;
Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds—
Mb bonds dulyaletOrO Gt oll 90D ees ioe cee $14, 800. 00





530 bonds, Noy. 1, 1905; to Jume 30; 1906. ..3.2-52.25- 21, 320. 00
35, 620. 00
Redempuon OmsupsidiysbOnds <2 222- 222222 oe tse ee 189, 380. 00
—————| 525,000.00
Drawback on Colombian and Panamanian produce .:................- 8, 171. 33
—___—_—____| $509, 050. 08
INetin Come Tortwielve months: s sass ses eee ers rete ee ernie | can oe aN eae, 306, 107. 12
PROFIT AND LOSS ACCOUNT.

Byzbalance: to creditor profiivand loss: June 30; 190b 6 =o s eee ea ee 4, 827, 418. 56
Surplus from income account for twelve months ending June 380, 1906.|............... 306, 107. 12
First mortgage 44 per cent twenty-year sinking fund geld bonds,

BS CGC TUN Ce ici ee eee aR ce ean eee ce ene | chi econ Dec 140, 000. 00
Adjustment of freight accounts for coffee shipments season 1904-5.....|_.....-......-- 4,030. 61
Adjustment of freight accounts for through business to Dec. 31,1905...)............... 12,468. 61

5, 290, 024. 90

Less—
To cost of tug Ancon and three lighters dismantled or

condemned during year, written off Dec. 31, 1905 ........ $73, 083. 60

Less proceeds from sale of these vessels ........-....... 275. 00
es SERRE 72,808. 60
Difference between book value of locomotive and car equipment,

as of date Dec. 31, 1905, and inventory value written off June 30,

ALC eee ees eee rere SS Seg rece a Sega ak eee en eas Su aC tage rn ae poe 121,315. 04
SUMdinvV. ACC OUMLS WrlGbeM Olt We beepers ee eee ere 7, oll. 45

——| 201, 435.09

By palance toerediior promt and loss: Jume 30; 190642: 2-228 scan ellen ase 5, 088, 589. 81

ree = ot
Exuipit B.—Balance sheet June 80, 1906.

2 3
Cost of road; real-estate; and equipment.:--- =<... 22222102. ee |



$12, 422, 592. 55
(Improvement ang Construchon acCOUMisne.-2- 2-222 -4-\oeeee- ase 483, 728. 84
Floating equipment: |
Steamers Allianca, Finance, and Advance........-.. $596, 749. 66
Muss angeliohterss.s: se aes a Cs ee ee oe can 290, 948. 80
ee 887, 698. 46

Motaleost-Of property css Pees os a ee ee 13, 794, 014. 85
Bonds in treasury:
- 100 6 per cent Panama Railroad Company sinking
FUNG SU DSIGy DONG Ses cs Sec eee ee 100, 000. 00
628 43 per cent twenty-year gold sinking fund bonds.| 628, 987. 50 Be oer ea
ee — —— 728, 987.





On deposit with financial agents for redemption of
bonds:



4; per cent twenty-year gold bonds.........-....--.- 2, 565. 36
6 per cent sinking-fund subsidy bonds .............. 8, 000. 00
——_ 10, 565. 86 ||
Advance of subsidy: to Republic of Colombia. -<-2.. 2.22. \- 2s.2252.2-2.- 588, 000. 00
Current assets:
@ash invbanksrand -wathvagents.s. 2255226223 e 421, 128. 67
Coaliand:suppliestonrhandes 23 ae - 627, 956. 28
Due from connecting companies .........,....-..... 229, 920. 78
Due from United States Government—
Isthmian Canal Commission........ $268, 186. 81 :
Post-Oiice Department... 4-223 51, 887. 88 |
Navy; Department: --2- 23.22.23 = 10252
———_—_———| 320,085.21 |
Due from companies and individuals...............- 108, 177. 67
Miscellaneous aCCOuniss. 22 3 (See a ee - 826,174. 39
Unearned insurance and charter of steamers......-- 538, 718. 67 |
General average disbursements. ....:...2...:-....--. 266.7 |
1, 982, 428. 37

17, 048, 996. 80



|

Capital stock
43 per cent twenty-year sinking fund gold bonds (au-
thorized issue, $4,000,000):
Issued to date (4,000 bonds, less 981 bonds previously
redeemed)
Less drawn for redemption in 1906...................

ee ee ee ry

Total capital stock and mortgage liabilities........

6 per cent gold sinking fund subsidy bonds@.............
Bonds drawn for red mption not presented for payment:
4+ per cent twenty-year gold bonds .-
6 per cent subsidy bonds

Funds for redemption of bonds:
4% per cent twenty-year gold bonds
6 per cent subsidy bonds

err eee ee ee ew eee ee



$8, 019, 000. 00
140, 000. 00

meee te ee tw tw we

2, 145. 00
8, 000. 00

137, 920. 36
175, 935. 00

Equipment and plant replacement RUINS Heese ere re eee ee ee

Current liabilities:
Dne to United States Government—
Concessionary subsidy accrued. ......
Bills payable—For cash appropriated
through Isthmian Canal Commis-
sion for new equipment and im-:
DLOVCMUCINEG Se epee ae eee: . 450, 000. 00

$9, 375. 00

Iisthmusidratis mot-presented=s-2 2-22).

Coupons not presented
Accrued interest on bonds:

44 per cent twenty-year gold bonds

(2,163 bonds)

6 per cent subsidy bonds

ee eo)

25, 560. 00
5, 3380. 00

Audited vouchers and pay rolls 23: 20-2. 22 23. 22:
Due to.commecting: lin estan ee a
MiscellamecousaceOumMts =p. se ee ee
Unpaid wages

Balance to credit of profit and loss

2533 six per cent gold sinking-fund subsidy bonds of $1,000 each, amounting to $533,000, issued Noy. 1, 1880, fall due Nov. 1, 1910.

To meet his bonded indebtedness, $225,000 annually of the Colombian Government subsidy was pledged till Mar. 27, 1908, the same to be applied by the company,
first, to the payment of the interest, and, second, as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an
amount equal to the then surplus of the subsidy sinking fund, the drawn bonds to be paid on Noy. 1, after each drawing and thereby redeeming the whole issue in 1908.

459, 375. 00
113, 720. 25
9, 127. 50

30, 890. 00
488, 750. 64
45, 005. 12
21, 095. 51
9 449,79



$7, 000, 000. 00

2, 879, 000. 00

9, 879, 000. 00
583, 000. 00

10, 145. 00



3138, 855. 36
46, 992. 10

1,177, 413. 81
5, 088, 589, 81

17, 048, 996. 80

“ANVdINOO GVOUTIVE VNVNVd HHL WO LeOduy

a
16 REPORT OF THE PANAMA RAILROAD COMPANY.

Exuisir C.—Statement of earnings and expenses for twelve months ending June 30, 1906

















































and 1905.
EARNINGS.
Be *
1906. 1905. Increase. | Decrease.
Colon to Panama:
SHIRE TOG oe Se ta Fikes a ee ea vere ie ie rotgs cree $1, 171, 910. 39 POAT OMG Oli 22483408) |e eee
IPASSCHIPCLS eke eke oe oe ees resis oes ot 107, 247. 66 72, 518. 57 Ba i290 OO) ei es ante
NENT See eerie arn Ne pean noes ore ges 86, 775. 02 73, 487. 68 NBS 28 Te Bae Sec . Geccer
* _Bxtra paeeaeel MBS Spepat ce apie aeetccave aa Sepeieis a 17, 795. 64 14, 577. 63 » Solon Ole ese es sas
MrCAsinowe ek ee ee | 12, 090. 09 [BODIE OL yeep ekes $1, 160. 92
Mota vee ee ee i eae 1, 395, 818.80 | 1,120,911.20| 274,907.60 |.........--.
Panama, to Colon: a a ae
ROTO Mites eee ee ie ase ere Glad miatare 546, 479. 29 548, 085. 21 "3, 394808) ace epee Bh
IBASSENSersen eho. Ie Talaeee sae ene aparece rc oe Se 92, 899. 26 63, 358. 45 29: D465 8s eee sec cree
Milani Sears eee Cen re Mec e cveraeieeetare Sie oleras 6, 477. 61 De GO als (OFS CO eG Ses
EEX NAO AGU Ore eevee Se repeister oe eaisniars 12, 388. 75 10, 471. 57 IS 8622188 Mereeer eee
ENTCHSUMC Hae Nore sha sciie Sin bare ats Se eeenene 13, 800. 40 WA ODL SOU eee 1,154. 40
MOU eee oa eee ’ 671, 990. 31 637, 637. 99 Sa oooh ORT sen came ees
Miscellaneous: a
Wnioiterseer 2 eee ee. Sooners 66, 852. 32 43, 870. 27 29.989) ()5i|sa3 obs
Water supplied shipping...........-...--- 25, 937. 39 19, 669. 31 Wess} loscsosbonsss
Rental: Ol propenbyer sss se ecemcee ea ae 23, 082. 48 DO DAT R20 | emer BS antany - 6,164. 78
Wharfage and light dues—Colon ......... 78, 158. 00 54, 425. 50 Darl 2iOOM cae ee
Wharfage—Panama and La Boca.....--..- 169, 332. 70 LQO8OR 62; |b cemer eer eae. 10, 606. 92
Cranage earnings, La Boca ...-.--....- Boke 19, 249. 09 QU Dee bison eee eee ie 962. 06
Storage and freight handling............. 18, 823. 15 9, 235. 51 ATI OTOA IR peepee se cie os
Meleg rap hye ees ees. ee Acne aes cies 2, 048. 94 econOlGrO2 cP eteis se ae ee eli .08
Miscellaneous earnings, other sources.... 104, 544. 85 PBOROUSEO4 ess eeeee ee 34, 528. 79
WROLA Ver oreo Gos Sees Suen er 508, 018. 92 500, 288. 78 DESO Aa: Berne as rae
Total railroad earnings............:.-..| 2,570,828.03 | 2,258, 837.97 | 311,990. eee
Steamship line: a .
Hineioltieeeg ieee eee a oor 848, 564. 29 O21 28004) ee 72 (16125
IPASSEN GEMS Se. sce. eS. a VScom eens wee 316. 258. 10 262, 3380. 53 BBY CPI TEs Soon ncone
Mail Se eos ac oss BPO eps ae spt enor Rei Lgisy oa 156, 134. 76 110, 086. 40 46: 0485865 oe Ose ee oe
Xtra DACP ATC estes s sssceece oe 5c ae aeeros 2,706. 52 Sy OOM LO eerie sees ee 745, 27
PRTRCASUMC ior cis ees aie ccs eis we ease oe ose iore ars 12, 096. 73 TOMO GRO (leans neers 9, 24
Wines and liquors ...--- Riles see cee ee 7, 018. 20 5, 002. 31 PO LOCC OM eae ee
IVEISC CUI IMC OU Ser ences eee eee ce _ 4,188. 65 1, 026. 34 SO plOge Oleg eter se ctee
MOt@ eee ee ee ee BAT Ol 2oa | ol oloooonee SPIT SNO Tl eaas ee wees
Grand total earnings .....---.:--------- 8, 917, 840.28 | 3,574,671085 | 343,168.43 | .
EXPENSES.

Railroad operating expenses:
General expenses, New York.....--.---.. OO; 400s: | OD) O2956D: |e ose a $359. 50

General expenses on Isthmus Sins aa ae 69, 996. 89 34, 329. 50 POD OOMROO. lee eae clasts
Conducting transportation .:-----.....-2- 914, 647. 85 596, 208. 64. BOO PASO se 2M | ores eros
Maintenance of equipment. --2.---.2---.: 138, 557. 51 14 OS0HO4 es ae ees 2, 4738. 48
Maintenance of way and structures .....-. 300, 979. 29 158, 337. 19 4D GAZ AO! ole ese ee
TSW TCLARC eae sae ae oe, So Se wa elas 128, 645. 27 81, 710. 65 AL 934062 | a sce ae
Docks and wharves, maintenance........ 56, 016. 06 QOAQTEOB els oe 40, 111. 62
Real-estate expenses....-...:---...------- 54, 449. 40 38, 089. 83 1G SOON OV les cee ase as
Loading and discharging vessels at La

Boca esse" Dao rs eta See rae even iy 18, 126. 18 17, 280. 97 S4571G6 ees cee



Total railroad expenses..:-.--.-.----..- 1, 7381, 888.55 | 1,178,945. 05 DO?) O43 v OO soe eee

pa |



—— eS

Steamship line:

General expenses, New York............. 29, 018.15 BOSS Robe hee eee 3,120; 4s
General expenses, Isthmus ............... 36, 015. 43 19, 8382. 97 NG RS2246 sc seceoenee

Pie OUCAIMET CXPEMSCSs cet -isa Nels sees 1, 069, 680. 98 787, 560. 06 SPW GPA Nesancgsacuce
AS CNCY;OXPCNSCS Wise. 2 oct oho eos anes 127, 831. 09 PL, 212538 LDS613y TS ee eee sree
Charters Ol SUCAMEIS sec. 6 «se sss Sais 121, 679. 81 2062849342. | cece sacece 85, 169. 61

Total steamship expenses........,.-.--- 1, 384,170.46 | 1,158, 588. 39 295, SSQE OTE or rs eee

SS ES SS SY [rE EE

Grand total expenses .....- Soc nse s 3, 116,059.01 | 2, 337, 533. 44 MIS O2De OTe eae
REPORT OF THE PANAMA RATLROAD

COMPANY.

1%

Exuisit C.—Statement of earnings an expenses for twelve months ending June 30, 1906
: and 1905—Continued.





































Decrease.

Ce

$240, 953. 44

eee ewe ane noe

=e ee ee eee eee

435, 357. 14



SUMMARY.
1906. 1905. Inerease.
Railroad earnings: ;
Colom tovRanamak ys jos ees eke $1, 395, 818. 80 | $1, 120,911.20 | $274, 907. 60
Panama tO:;COlOM a5. eee eee 671, 990. 31 637, 637. 99 34, 352. 32
PMUSCellameOUSesce asst ee es eee See 503, 018. 92 500, 288. 78 ~ 2,780. 14
Total railroad:earmings -.-:.-....-...--. 2,570, 828.038 | 2, 258, 837. 97 311, 990. 06
MTotalrailroadsexpenses: 232-4522... 5- 2: 1,731, 888.55 | 1,178, 945. 05 552, 948. 50
Net: Carningss 20. este ee ye ee. 3g. 989. AS cl 1 O79 892 02a es ee ees
Per cent of expenses to earnings ......... 67.37 52.19 15.18
Steamship line: 2 ee
Motallearmines ees eee Seale 1, 347,012.25 | 1,315, 883. 88. 31,178: 37
MOtAl OXPeNses ojos oe EE 1, 384, 170. 46 i 158, 588. 39 225, 582. 07
Netieannings ip haen ears e @ 37, 158. 21 157, 245. 49° AOS eee aeons
Per cent of expenses to earnings.........- | 102. 76 a 88. 05 14.71
Grand total earmingss2.- 5335.62. 3. 917, 840.28 | 38, 3.57 4, 671.85. 345) 168. 43
Grand total expenses “42222-6292 3, 116, 059. 01 2. 337, 588. 44 778, 525. 57
Mota lenet CALM Se eee ee SOM SU soe lS (SS. 4 tne hae oes nyie
Per cent of expenses to earnings ......... "79. 54 65. 39 14.15
a Deficit.

‘

Exursir D.—Statement of operating expenses of railroad for twelve months ending June
30, 1906 and 1905.



_ General expenses, New York.

Advertising, folders and posters ................_...... te SS oe eae eons

Advertising, general

Clerks, salaries

wae eerste ee meee ete we ee eet eee eee ee eee te ee ee ee te ee

er cere este ee ewe eee eee eet ee ee ee eee ee ee ete

DITE CONS AN GsCOMMMITTCCS TCC et ee re cE re a Be

General offices, repairs and rent of

coe et ee en ttt et te weet ee ew ew eee ee tee tee

GeneraloticeswotherexPeNnses ne eee Sree ee

Incidentals

weet eee eee wee ee ee ete eee et ee te eee ee ew ew eww ee ee eee ee

Me SASeL VAC es ANGI OX PCNSCsee eee eee ee ce ee te ce
Oficersssalaries Of 5. Set See Pee ca am He Si ESO NGI OLN NON GORY Ooze

Stationery and printing
Telegrams and cables

Advertising
Cablegrams
Incidentals

Legal expenses
Miscellaneous

errr eee mee we et oe we ew eee ee tee we tet ee we ete we eee ee ee

ert tee eee we em ew ee we ee ete ee tt te ee eee ee

wre ree et ee wet e eee ee ewe ee et eee eee ee eee tee ee

Glenksiandeattendants, salariesof 99) 7
Hospitalccrvyice 6 9 a ee

sewer wm wee ee te ete www ee mee ee wee ewe eee eee eee ew ee ee eee ee ee

Officers, salaries of
Office expenses and supplies
Stationery and printing

eee eer we ee eee we ee ete ee wee wee ee te eee tee eh
errr eee et eee ee eee ew eee te ee

wee eee ete eww eee eee te ee ee

MUO Uae ee te os Be BM en eh OS SG AE een rob Pee tea rn o Stay gees

Adver Hone.

Ineidentals

H. Doe. 415, 59-2——2.

Conducting transportation.

Clearing wrecks
Engineers and firemen
Fuel for locomotives
Freight agent and clerks, Colon

weecerecec entree ema se tr eee eee wm een eee ee te ewe enw wesw nen ec wm wwe ee we wae ee
eee ee wm eee ee te ee ee Be weer ee ewe we eee wee eee ew we ewww wee ee tes
cece eet te tet eee ew Cee ee we

Freight agent and clerks, Ranamea and Way BOCa 22-26 se ee. sore \
Injuries to persons

See w ne

eet e te te tee eee ee ee ee eee eee

wre em mer eee mee eet et ww emt eee te te te ete tet te ew ewe te ee





1906.

$143, 90
180. 01

18, 523. 92

4, 031. 20
3,572. 41
4,120. 24

5, O71. 61

16, 288.78

2, 493. 51

1, 044. 57

56, 470. 15



55.15
34,179.11
1, 089. 38

10, 800. 80
719.09

1, 158. 05

8, 497. 11

9, 465. 11

1, 542. 56

2, 545. 58

69, 996. 89

1, 848. 15

1, 083. 90

78, 212. 05
75, 528. 57
35, 883. 14:
50, 997. 94
1, 662. 35

695. 82

1905.

$241. 02

1, 187. 38

55, 829. 65

36. 66
12,149. 44
589. 54
5, 687. 80
175, 21
1, 967, 50
4,065, 21
7, 467, 62
1,207. 97
932. 55

34, 329. 50

1, 524, 22
48, 62
40,749. 91
51, 497. 05
92, 112. 18
81, 892. 77
559. 65
846, 55
i

138

REPORT OF THE PANAMA RAILROAD COMPANY.

Exuisir D.—Statement of operating expenses of railr oad for twelve months ending June 30,

1906 and 1905—Continued.



Conducting transportation—Continued.

Labor, Colon station
Labor, Panama station and La Boca
Oil, tallow, and waste
Other supplies for locomotives’
Roundhouse men
Superintendence and clerks
Switchmen, yardmen, and yard: wate hmen
Station agents and clerks
Station supplies and expenses
Stationery and printin
Train conductors, baggagemen, flagmen, and brakemen
Train supplies and expenses
Telegraph expenses
Water supply for locomotives
Rent of buildings, ete
Loss and damage, freight. and bane
Outside agencies

see eee wee ew eet ee ewe ee eee ee ee
Se ee rey
ween ew em we ww wwe ee eee eee ww ee OOO ee
weet ew mt eee ee em wet ee mew ewww ww ee eh ee
wee tt ee ee ee em et Oe ee he te ee eee eee ee
ee wee em ew ee ee er eee ee ee ee ee
~e eee ee we wee eee ere eee
eee e te ee te eee te wee te ew te ewe te eee ew ee we ee et ee eee ol

Se ee i er ard

SES Nc Haale Ra cece went
Re Care ctenc ssuc Sena RO aes eae tie ae RUE pC eRe
UIE SRE ORS ae attest Tee nat ae UANG nt age REE eR RE UPR Rae ANC EEC
RaV SIS ee eget lave oes wate ra ra een epey Se ee Seca ava rupee Sunt ete Rea aas
Si aT ett ERTS Bia oa Saag ans OEY operas Meas Tecan y Trin
BiSis Ged th SIS RSS Sy ee SN See pepee rears SVN AS

ene ee ee ee we we wee eee ee ew et ewe ww we tt eee eee

Maintenance of equipment.
Freight cars, repairs and renewals OTE SN rate aha Sine rerees a tata) ave wn Rapes
Incidentals
Locomotives, repairs and renewals of
Passenger cars, repairs and renewals of
Superintendence ATO CVO Tee Sree eis oie eh an a eee ee nee
Stationery and printing
Shop expenses
Shop machinery and tools, repairs and renewals Of. ---.2.-2.-25--F2. 222:
Work cars, Tope aud renewals. of

ec eee wm tee wee et hee ee ee wee ee ee eee hee te we eee ee ee
were eee ee ew ete eee eee eee eee ee

eee eee eee ee tee eee ee ee eee eee ee ee

eee en we eww we ee www eee ee eee ew ee tee eee ee ee eee

ee ee ey
eee eee wee ee ewe ee meme ee tee eee

Se ee ee a er

Maintenance of way and structures.

Bridges and culverts, repairs and renewals of
General offices, repairs and renewals of
aT CTO Ibe Sears cee sets ses cdg eS aarere oak eel nieve eure cise tol Aur em oun gases iape Marre eaarates
Machinery and tools, repairs and renewals of
Rails, renewal of
Roadway and track, repairs of
Road crossings, signs and cattle guards, repairs and renewals of
Superintendence and clerks
Swatchesand: trocs Spikes and rail fastenings, renewals of
Station buildings, repairs and renewals of.
Shop buildings, water.and fuel stations, repairs and renewals of............
Stationery and printing oe

Section houses, tool houses, ete., repairs and renewals of
Ties, renewals of
Telegraph, repairs and renewals of
Weeds, brush, grass, etc., removal of

eee e em meneerer eee eee eee eee eee eh

esse eee ee em ee ew ee eee eee ee

wen eee ee mee ee we eet eww eee wee te we
wee em me sree em ee eee ee em et twee eee ee eee ee ee wee tea ee ow woo
ee te tt et ee emt we eee et ew ew eet ew we eee we eet www ew ewe
eoeeense ewes

wm ene wm eose eee em ew ent tet ew wee ee eee ee ee

ewe eeerenseeene ee eee ee ee et oe ee he ee eee

wee ee we we ee meet eet ew ee me ee

wen eee ew ee wom em eww eet eee we wee woe tee ee ee eee ee eee ee
esr ee em eee eee oe ee eee
wee me eww eee ee wee Cet eee ww Oh ee eee ee eee ee ee
eee eee emer wee ew eee ee eee te eee wee ee ee we

eoer mew wm eee we wm eee eee eee ee ett

ee ee ee eS er i ee ard

Fuel and water
Incidentals
Labor on cargo, Panama
Labor on cargo, Isla de Naos
iShters; repairs ana TenewalsiOli.-: sles cer sche cs hsece scot ceases.
Other lighterage equipment, repairs and renewals of
Supplies
Supernmmtendencesand: Glerkgec.c 25 xis Sie. se Seelam ei a eee
RS UO SUS USING Ca U1t Screen ce alate ei dale erie ee cere Sere eles aco ears
Nulbsistenceslaborersmlsla: de NaOSe. 22622 sos ene eee ecient
Tugs, repairs and renewals of
Tugs, expenses while out of commission
WIBIOS OL CLOW Sis oso nos Seta See eee BSN et Cea Rar nae eas era gua
Depreciation ofbugsand lighters 352s esate see cece Seer

“eee we ween we ewww eee eee reer eee Hwee eo
eee ewe te ee ete eee eee wet ee eee ee te ee ee ee he He ee eet ee et ee ewe
ee ee ee ee er

ere eee we ee ee ee Oe eh ee ee ee

enw ene mee eee tee ee

ee

t
eee ee ee sew eet ee ew wee eee eee

cee tt ewe wt te tw tet mee ht we tee te ee ee

eee eee ee wee mee ee et ee we te eee ee eee eee eee |



1906.

1905.

$170, 861.09 | $109, 609. 76



150, 882.89 | 100, 225.79
4, 208. 25 2,081. 53
2, 668. 91 1, 457. 34
22,009. 30 9, 021. 28
6,187.91 | . 3,578.00
101; 292.26 | 60, 928.77
48,919.26 | 18, 048.44
33,048.39 | 26, 101. 96
13, 264. 65 4,995. 24
59,584.80 | 30, 956. 82
18, 540. 96 5, 659. 74
94,967.46 | 13, 279.76
6, 150. 68 4, 862. 98
ez 1, 112. 81
11,349.71 | 10, 300.58
4, 887. 64 4,761. 89

914,647.85 | 556,208. 64

44,617.45 | 46, 848.99
10807 || ee
49,528.30 | 54,465. 22
14,469.65 | 14,741.58
12,089.98 | 18,548.91
457.17 938. 38

2, 646. 75 657. 58
10, 199. 17 9, 124. 39
4, 440. 97 1, 405. 99
128,557.51 | 141,030, 94



25, 119. 40
4,091. 83

2, 499. 97.

3, 931. 95
30, 620. 04
67, 064. 70

216. 87

2, 406. 90

7, 222.18
14, 264. 49
44, 364, 75
14, 643. 87

1, 438. 00

497,31
93, 728, 44
56, 528. 97

2, 409. 69

300, 979. 29 |.

7,754. 54
1, 927. 39
89; 172. 94
6, 789, 20
11, 539. 16
1, 924. 04

17, 997. 18



128, 645. 27





——_

12, 839. 48

29, 630. 09
15, 426. 09

158, 337.19

6, 661. 55
24.00
21,164, 94
1, 469. 51
20, 519. 76
3,707. 92
4, 580. 61
2, 946, 48
1, 987. 78
2,088. 90
9, 440, 27
304. '70

6, 914, 23
6, 900. 00

81, 710. 65
REPORT OF THE PANAMA RAILROAD

Exuisir D
7 1906 and 1905—Continued.



Docks and wharves— Maintenance.

Docks and wharves, Colon, repairs and renewals of
Docks and wharves, Panama, repairs and renewals of
Harbor master and light-house keeper
Light-house, repairs and renewals of

Light-house, supplies SCOR Bea OA mh Pee ES cee ee Seco SNe BPO ar ed Sete eieieserrerorr alte

La Boca pier, repairs and renewals of
La Boca basins, dredging of
_ Clapets and dredges, repairs and renewals of
Buoys, repairs and renewals of
Rental of dredges, clapets, ete

we ewe www eee ewe ew eee eee ew eee
eee et ee ee wt we ee ee ewe
weet we em et ewww ee eee eee ee
ene wee ee eee wwe ee tee ewe ee eee

Total

eee ee te wwe we wm ee ee ee ee tee et ee ee ee

_Real-estate expenses.

Colon buildings, repairs and renewals of
Colon buildings, repairs of existing furniture
egal and other-expensesrsns. 256 5 OS ee eS ia es sees Bea ee
Water for company’s buildings

i ee ee |

i i i i rr)
eee eee eee ee et ee eee eee et eee he eee te

Loading and discharging vessels; La Boca,
Transporters La Boca pier, fuel, water, and supplies. Bia ere Cees See ee ones
Transporters La Boca pier, repairs and renewals of
Labor on pier
Other supplies and expenses
Pe penses, transportation freight by lighters between ships lying at wharf
and shore

eww eerste em wee een ee eee ee
wc eee wm ee tw wee we wee eee ee ee eee et ee ee ee ee ee he te ee ee
See ee er i ee ee a te ee ay
wen ee wt we et ew twee tee ew ee ew Oe ee ee ee

een meee ee eee ee te et ee ee ee wee ee ee

sent eee eee ee ee ee ee we ee ee ee he

COMPANY.

19

D.—Statement of operating expenses of railroad for twelve months endin gy June 30,



1906. 1905.
$28,971.55 | $12, 945.97
2, 661. 51 806. 90
1, 215. 48 - 930. 84
62, 38. 780
58. 00 - $0.96
a1, 854.78 8, 107. 44
502.43 | 35, 968.58
24,389.23 | 32,382.47
10. 26 64, 41
ea eee 4, 823.31







27,289.00 | 26, 129. 46
15, 819. 86 1, 532. 74
11,125.70} 9,835.25
214. 84 592. 38

54, 449, 40 | 38, 089. 88
8,630.39 | 1,116.36
9, 803.17 4,797. 30
11,036.79 | 10, 410.07
ee a "44, 82
655. 78 912. 92
18,126.18 | 17,280.97
658,216.15 | 391,546. 32



aCredit.

EXHIBIT E. ee of pend expenses of steamship line for. velve months ending

June 30, 1906 and 1905.



General expenses, New York:

Advertising, fold ers and posters
Advertising, general
Clerks, salaries of
Directors’ and committees’ fees
General offices, repairs and rent of
General offices, other expenses
Ineidentals
Legal services and expenses
Officers, salaries of
Stationery and printing
Telegrams and cables

wm mem m we em em et ete te tet ween ewe mw wee ew ee eee
ween eet te em et et eww we eee Oe tee eee ee
tt tt te ee mw ww
eee et twee emt treme tee eee et ee
we mew wee ee te te we twee ee eee ew ew tee et em wee
weet et we te mt meee em em wm ww wee mw wm ee ewww ewe eww twee eae
wee we me ee ee eee ew ee ee
Ce cee me tee ew ee cw ewe et et ew we ewe we te we te ee
eet tt tm te te mew ee ee et ewe ee ewe eee ee we
ect te em me ee ee eww ett ew ewe wt eh ee

seer e eee we eee he ee eee ee ee te

ower nem e eee ee eee ee ew tC ee eee ee eee ee

Advertising
Clerks and attendants, salaries of
Cablegrams
Hospital service
Incidentals
Legal expenses
Miscellaneous

Office expenses ana supplies
Stationery and eee)

Total

“eee ee ww wee ee ee ee ee ee ew eee ee hee eee eh
wee eee ee ee ee ee ee
wre em ew wwe ewe eee ee Ce ee ee ee ee
ene ee ew ene em we meee eee te tee ee ee eee ee
e-em ewww eww ee et eee eee eee ee ee he he
eee ee em wet ee we ee ee ee Oe ee eh

were etree eee ee tee eee eh

wen eee ee ee ee eee he

cee ee me ee ee ewe et ee ee ee ee

~ em ner ese eee ee te eee ee ee ee ee Oe ee





1906. 1905.
$68, 81 $142. 57
103. 89 108. 45

9, 679. 37 8, 189. 38

Te 2,598. 51
2,112.08 1, 495. 34

1, 847. 00 1, 087. 59

2, 067. 55 1; 109. 75

2, 626. 47 9, 513. 95

8,627.78 | 18,520.81

1, 317. 39 715. 88
562, 81 656. 38

29,018.15 | 32,183.56
27.72 22, 94
17, 595. 57 7,118, 12
522, 68 3819. 68

5, 701. 32 3, 245. 00
331. 16 79.76
612. 55 1, 146. 30

4,176.47 2,279, 88

4, 889. 95 4,301.76
810.19 771. 62

1, 347. 92 553. 56

36, 015, 43

ee ee

19, 882. 97

\
20

REPORT OF THE PANAMA RAILROAD COMPANY.

Exacweir i. — Statement of operating expenses of steamship line for twelve months ending

June 80, 1906 and pet Compued:















































1906. 1905.
Agency expenses. ;
‘Advertising, NOWSPAPEIS 2. Soe Ba eto ee ee $3, 709. 69 $2, 593. 40
Buildings, docks and wharves, repairs.and rent of...-..:........- UR eee 47, 962.17 40, 488. 38
Buildings, docks and wharves, other. @Xpenses: :: 3.52. eae ae 6, 269. 65 7, 301. 50
Gommissions, passengers Beasts sone et GU See coe Sere AS ong aay SUS a ad fate NRE re Sees 1,190. 85 1, 750. 94
MAUNGUIT AT COR es re eS SIS OS PSs Soe es EE Ae ee ES tae ae : 1, 158.00 1, 158. 00
Injuries to DOnONS LOL Rae ere aC s NSH yO! sees eee
BACH S ee ee ei Cs Cee ra Sy Ree var eo 60. 00 59. 85
MER O IR CM eral nm asco acai eee ea eo een ae iy eee ertee cea 19, ee 90 19, 061. 95
she galisenvices and CXPeCNSeS)) 5.5220 os ee ee a! ARQ’ |e eee noe ace
MUQSS A GEG AMA Or ieee hae IE NTs SES a Ce CO Crre ot iy gion 88. 14 138. 06
Balames:Olarents and Clerks: : 2.5. eh ee 41, 497. 64 32, 958. 48
PeUMtOMeLY-AnGprimtinge 5526 ee ee ae a | 2, 665. 71 2, 843. 90
‘Telegrams and cables........-.......--2-. Se SOU AAUD ODORS us Baa cara Maun uaR Ne nO 302. 69 63. 61
SERV ROS eee eee kee igs 1 AU NERO RE Wet Fe MOR Oo UR ES Dm ea ane GREE 1, 200. 00 1, 188. 89
MUCSIGe AEENCIOS eo ee so es kos ee ee ee 2, 604, 15 2, 730. 97
RO teu ee ee eS Se Sa ee eee 127.831.0973). 112,212; 38
Steamer expenses. :
Custom- heuseandsport: CHATLES <2 kee a hee ere 12, 486. 50 6, £42. 94
SND OCIS SoS ec ee Spee cre SN SS TSS Oe Nee er pennant ies 1,170.10 344, 05
‘-Equrpment, deck. department .. 255. 056 225. a ee es je eee ee oe: 19,920; 21 11, 545. 63
Equipment and spare machinery, engineer’s OO SOR aircon eee U;,127. 32 1699 2h?
SHquipment, commissary department i. 25-2622: ss ee ee ee 15, 974. 59 10, 485. 66
SRUILOI Sire cians Gosstros See keg Sake acl Scio cee he ect See es i ec | 170,552.06 | 128, 892. 90
‘Meeding passengers and crew............--------- eee Ne pices eases eet Pos lO 2o5008 99, 267. 74
MEAG RO eGo reee eaolaeiseaa ee eceeeee A, 905. 98 3, 294. 19
slay UTES MCOSPELSONS! foes oo Oe ES Po es ee ee eee eel 196. 00 409. 15
Labor on—
UTE Oe ese ee a ee Laue ocean io oe ats 202, 023.40 | 171,588.39
Beeps errs ie eased hr ke a ser cta a Hana eee ale sya ra papas GN psec aa I pt 24, 356. 77 17, 689. 92
INS IOS eo ee ee ee ies BS 2 CRN AS ee oe emsoarec a Sh | 1, 254. 10 1, 076. 70
PGORS AMO GRMALC B28 focus oss se PE ee ee ir 6, 940. 40 | 4,910. 62
BOs amdawaste 6. oso ee ee | 4,082. 69 3,404 21
BaIntino ships bottom =... \0 a ee ee 2, 700. 02 1, 939. 00
PUT OTA SRI COW AR Cis se oa ce ae asters ea ale ee re en Te Ce nee 12,505.19 10. 356. 74
Quarantine sie. es ee es Bee eee ee ee ee oe ore eee 1, 858. 87 926. 00
Repairs deck departmento 0.4) 2. sce. s eae ee be eee | 30, 022. 42 16, 841.66
Depreciation and extraordinary repairs, deck department.......-.......... 24, 935. 00 26, 848. 79
PVE pairs eneimexGepartvimen G2 oecs: os scsi Gos soe ccc Sales se iareeins ae aeons 49, 940, 72 27, 515. 68
Depreciation and extraordinary repairs, engine department...........-. Sas 12, 467.50 18, 174. 41
Repairs commissary. department... 3.52. ee ees oes eens = 11, 789. 10 5, 089. 08
+ Stores: ...
Peck Enpoimeidepantment:<.2..2-- 5 sacs css se see. ca SEE naa Bo lars Uae 11, 078. 26 | dD, 048. 38
- Commissary MLCT AT UIT CTUGS eee eee Ls SE ee Cer eee OS ea ae 5, 171. 88 2, 453. 80
Surseontsidepartment 22 ont: ace eee anos ot es ee cee oe eee eee 605. 05 431. 44
Stahionenycandeprintine 224 2 oo ee ecco het ic ee aoe See ee eee 1,125. 04 1, 419. 73
pbelesrams and Caples: 2-2-2. -- =. fee sel Sascisce ees eee 2, 622. 67 972. 54
VINO es ee re ee a ce Sesame ay ie ens Sovarstars cisieisieeiia ose seine pare emer .-| 205,994.17 | 160, 584. 37
pWater.....0...- PR sia ose ses aCe Sia oee Teese Germ T eee ae Papeete ce 23, 665. 58 18, 146. 42
PVH Dae es eee ee re Ge ee cre Ree Nearer ees ONahe en ao rae ee eager 6, 548. 18 4,765. 44
iumence: ee 57, 846. 83 23, 252. 16
Total EUS a Rye teen Uae Shenoy See ayn Ae Ls See nea ae alace sare Coe eins eereen| a. 069, 680.98 | 787,560. 06
CNAEUCTIOT STC AIMIOTS ei eM een or nee yas ere Sia crt ere aia seiaatieis | 121, 679. 81 206, 849, 42
Gotan Gato tale oye ae eee ort Nar eines Oe ice Seas Siete mere mmc nere | 1, 384, 170. 46 |1, 158, 588. 39

Ex arpit F.—-Statement of expenditures for improvements and construction for twelve
months ending June 80, 1906.

Locomotive and car equipment: :
| $297, 641. 09

HSOCOMOUNES 3 250 EE oe ee ee ee

OX CANS see ee 1, 776. 58
WRASSEN GCI CANS) 5.0 oo 522 ee ee 122. 95
Caboose. Cars 43. es ee 578. 72
ivanovcaretor laborers. 0-25 ee ae 12, 643. 79
RGIMISCNALON CAS 225. ee ee ee 18, 118. 92
pine OIVer 6 oS eee ee 10, 080. 43
eWGleC ano Chanesi a Se ee a ae 24, 911. 08

365, 873. 56












REPORT OF THE PANAMA RAILROAD COMPANY. 21
Buildings and other structures: 2 | :
-Duplicate electric light plant (completed). es ae ee erate ea eee $1, 802. 60
Duplicate ice plant (completed) <2'2-- 22-20.) 2 ee 1, 992.16
_La Boca water works : (completed) . SES 8 se ee "a 88,
Oil house at Cristobal (completed) =. .-.62 4... 2228 1,,073:.01-
Ancon electric ight plant (uncompleted ) Peo c Se eee eee see i, 247.01 —
Improvement to La Boea pier (uncompleted ).....-.......-.------ 16, 003. 58
Coal chute Guncompleted) =) 2.22220 i ee ie 429.77
Improvement to pier No. 4 (completed) .....:-2..----:----.2--- 47, 995. 80
Annex trainmaster’s office (completed) ......-......--...-..---- 1, 103. 19
Third story Washington House (completed) ........---..-.-.--- 7, 320. 47
Permanent refrigerating plant (uncompleted) ............-..-.--- 15, 930. 54
Laundry. at Cristobal Gancompleted)- 22. --:. i222 25222222221 8.. 4, 188. 43
Bakery-at Cristobal: (uncompleted) ©: .- 23. 8223. 298. 64
Erection of quarters, colored laborers, Cristobal (uncompleted) Se 20, 700. 46
Temporary freight shed, La Boca (uncompleted) .....:-......-.- ii 419, 24
Mechaniec’s quarters, Cristobal uncompleted) 2. 22255) 5. on 14, 922. 02
Panama Railroad quarters, La Boca (uncompleted) ............-- 5, 637. 39
Family quarters, Cristobal (uncompleted) .....:.:...-.........- 4, 553. 41
Extension of Cristobal commissary (uncompleted ) Cee ae es 3, 988. 93
Transfer table, Cristobal yard Cor ered) ek Fe eae en 9, 47K. 33
Turn table, Cristobal yard. (uncompleted): 22522 Sere 6 esi... 2, 215. 10
Engine- house Cristobal yard-(uncompleted) 222°... 220 12, 005. 70
New pump station, Frijoles (uncompleted) .............-...-.-.- 3, 629. 64
Brown hoist coal plant. (uncompleted)... 9.2). <5: 2.2.2.2 73, 991. 70
Cinder pit, Cristobal yard (uncompleted) ..................../.. 1, 076. 32
New station, Las Cascadas (uncompleted )'................-....-- ii, 338. 88
New station, Bas Obispo (uncompleted).......5......2........-.- 1, 372. 80
New. station, Culebra (uncompleted) 2. 225 S 321.51
New station, Camacho (umcompleted) .....22....2..222.....-- 2. 2, 367. 73
Installation 5-ton ice plant in temporary cold storage plant (uncom- : |
pleteds\i: hoe Oe a BE ee Oe ee ea 3, 040. 38
Temporary refrigerating plant, Cristobal (completed) .. ihe aes 18, 997. 82
New water station, Cristobal (uncompleted) ..................-.- 290. 80
310, 637, 59
Floating equipment:
New lighters at Colon Garon pleted) Son ee oa ee $82, 748. 48
New. tug for Colon Harbor (completed). 2-2-2... 222222205. 5252: 57, 942.53
Two new lighters, Panama Bay (completed) ...................- 10, 973. 30
151, 664. 31
New sidings and yards: ee
New Y= at La Boca (completed).<) 02.2.2 bs ko a $151.18
Hxtension Ol sidimes (uncompleted): 3 = 22. 82s | 240.55
New yards Cristobal: Gincomipleted) . 25) = 119, 439. 87
New yard at La Boca ( ee) ee ee 14, 354. 14



133. 883. 38





New machinery and appliances:

Te









New air compressor (completed) 2. 2.0 $229. 44
Pneumatic tools and machinery (completed) .................... 83. 38
Wihitecom >: planer (Completed) 5.223 5 2.2 2 882. 22
wo upmcht boilers (completed) 29.25.5052.) 6 _ 8, 889. 23
One Fay automatic cut-off saw (completed) ....................- 514. 41
@hmtilevercrane (completed) 95 9 31, 156. 71
)-tom traveling. crane (completed) 222. 2-65.23 te 6. 10
4 cranes at ba Boca pier (completed)... 5 222.5... 5 es. 1, 901. 20
Bolt heading and nut tapping machine (completed) ............- 2. 551. 53
41, 214, 22

GramdetOtals 2 ee ee ee ee 1, 003, 273. 06



a Credit.
to

REPORT OF THE PANAMA RAILROAD COMPANY.

Exarerr G.—Hquipment and plant replacement accounts, June 30, 1906.



|

Locomotive and car equipment:









PH eDORGAMG WALCO CUTS co tte ere ates ei eis eye mayne oye tiavereatyoreinecnersisinye erst vere $1, 450. 00
MASTOCK CATO cr cnn eee teas Gre rota ain aia Uroesioia sats Peas toe ae eG 220. 00
4 aaa TO. 90)
Ledger :
ee Rate. Period.
Floating equipment: IZ, Blo
Balance Dee. 31, $935. 83
GeGrAlManChs: 3. 522. 5 eo. | plod 12. 97. Be0D:
; 6 months...| 4,624.62
——_————| 5,560.45
Susi Minancerss o2chs ore QP AlONS9. |) 66). | O WO OMUMS ee ates see 6, 642. 30
SaSteAGVANCE et sete ome SS ec. 221, 186. 30 Gos eOrmOnithsesalhen etna 6, 685. 58
Balance Dee. 31, |: 10,755.12
MU Se OUVA eco ccecis oe aici 70, 000. 01 1905.
10 | 6months...} 8,500.10 oA
——————__| 14, 255, 22 |
MupuOristObalser=. = See sae bis 942.53 (2 10) | sO mmmOmbNGe ye ee 2, 897.10
NGIGUNLOTSy eee fee cece oc ~162;999: 493) 10) sO mar onthnsees| sete 8, 149. 98
aa | 44, 140. 68
Ice and electric plants:
Ice plant.at Colon ...........-- 16, 734. 00 Gr Gpmomthsss| sess sse ss: 502. 02
Electric-light plant at Colon...) 14, 604. 44 Seale 2 moOnmtn gees cere a: 194. 72
. Eleetric-light plant at La Boca.| 18,180.86 See 2 mMOMURS eee 242, 42
Electric-light plant at Ancon..| 17,066.57 8) | Mayes esse 113.78
Electric-light plant at Ancon..| 19, 279.37 Se PIRIMC eee 128. 58 obs
i——-———_ 1, 181.47
| | 46, 992. 10





Exurpir H.—Statement of classified railroad earnings, tonnage, and passengers, Colon
to Panama, for twelve months ending June 80, 1906 and 1905.



















































































FREIGHT.
Pon nEse:
1906. | 1905 D. Incre ease. 6 renee
: oe
Through:. eo |
Mrom New YOrk -. 20.5.9. .ohes ee A D020) ee LOO LOD Se ae 2, 640
From New Orleans....-.....-------------++-----+---+:-- , 3,429 a Ova |... 1,145
From Europe Repeal yad Uns Petey eta n ter Sta iape ne tale taletotererareve 105, 710 i O25 194 18, DIG. eee sus
Motil BUR rae et nase Nanas aa ee 206, 664 | 196, 933 Qe folles| Mawes
Local: , : | a
Commercial at epee MMP etn ee intel ata alolotolatereierelctaleteialetslalelele aime 43, 159 | 32, O11 | li, 148 onto ee eee
Isthmian Canal Commission..........-.--+----++-+--+-- 137,129 | 39,342) 97, 787 |..........
Company freight..........-.+-+++++++++2+22e-2- +2222 22-- 22 O38) es 02,800) |e 9, 947
Motale 5: Seen OU eras pnece rie ke Sue te ore SON aes 203,226 | 104, 238°) We ete) Ta ccoacuaac
Total freight Ringe Ween eAste hoe ey ae ap Niateoad a evetlotatatstal siaichafelielaneroferarata aa 890 301, 171 | 108, ae sl ajeteieletawicie
Earnings, fs Rate per ton..
1906. 1905. iacrease, ees rease. 1906. E 1905.
Through: :
eHTrOMENG we VOLKis estas e252: $351, 452, 197 | Pot, BOOn22 |e seen: $33, 953.03 | $38.46.) $8.71
From New Orleans .........-.- -11, 950. 69 LOE 09S 84 alee Seer. a 7, 148.15 B49 Ae 7,
aWrom Bunope 922s... 387,018.90 | 365,812.95 | $21,205.95 |............ 3.66 | 3.97
ALO Get ie eae So ae a ete eerste ae 736, 401.78 | 756,292.01 |..---....--. 19, 890. 23 3.56 | 3, 84
Gorminercial Se Ee Ea een ets MA OMUEAS sols O80 ele SOR O8D. 0 (ele ee 3.98 4,12
isthmian Canal Commission...| 268, 838. 48 Dons LO es 20D ERG 24 ee 1, 92 1.49
Compamystreiont ae oe le ke ee occ cis ieee sae 2 Bona aia cer aiaeara ees see erate aan :
Motel are er! 435, 508,/61,) 190,784.30 | 244) 724,31 |.) | 2, 14 | 1.88
Tipielireights = 1,171,910.39 947,076.81 | 224,884.08 |............ 8


REPORT OF THE PANAMA RAILROAD COMPANY. 938

Exuipir H.—Statement of classified railroad earnings, tonnage, and passengers, Colon to —
Panama, for twelve months ending June 80, 1906 and 1905—Continued.







































































MAILS.
Weight. KFarnings.
: oe In- ot De- : De-
1906. 1905. crease. |crease.| 1906. Pee Tnerease: | crease.
Pounds. Pounds. Pounds. | Pounds.
From New York...| 1,047,000 85956205) 187 300r ls. eae $73,599. 48 1856, 142.45 |$17, 457.08 |....-....
From Europe ...... 11280134) bo | 42,088 | 9,138.48 | 12,644.15 |........2.- $3,505. 67
WOCH secs ee wees 150, 873 Do De liledya| eee ketone 88, 839 4, 037. 06 4. OME OSE Brees een 664. 02
| Motaiie ens 1, 309, 886 | 1,258,488 | 56,448 |-.....-- 86, “86, 775. 02 02. 73, 48 487. 68 68 | 13, O87. S4|. eee
TREASURE.
7 Value. Earnings.
ie ee ee
1906. be Oe crease. | crease. to 00. eT crease. | crease.
From New York ..... $1, 828, 779 |$1, 925,250 |........- $96, 471 | $3, 730.31 | $3,507.05 | $223. 26 | Cee see
roe IDWUKO XS Sosasacc 21935 905) 12 2s 88i300 |se cece. 594,412 | 8,103.78 | 9,014. 47. oe $910. 69
Local: | .
Commercial...... 29, 500 AB9 B42 nce ae 409, 842 62. 00 (22:04 See 660. 54
Isthmian Canal... 189, 500 26, 800 \$162,700 |......-- 194. 00 6595) | 1S7A0bV Ge
Movale oes. 4,941, 734 | 5, 179,759 |......-.. 088, 025 | 12,090:09 | 13,251:01 |... | 1, 160. 92
BAGGAGE.
Weight. | Earnings.
1906 Hoop ee Der cae 1905. | Increase.| , D&
i * | @rease. | crease. : : ‘| crease.
Pounds. | Pownds.| Pounds. | Pounds. :
From New York....... 140552851 124) 291) MOS 2387 ie see sc PL SOQ V9) B28. 44a eee $092, 25
- Krom Hurope’...5.:.: 2: 93,076.| 43,451 | - 49,625 |........ 1, 887.45 | 1,220.07 | $667.38 |......-.
Toca 994,247 | 620,278 | 373,969 |......-- 14, 387. 00 | 11,244.12 | 8,142.88 |........
PRovale ss. soe 1, 227, 851 | 788,020 | 439, 831 ea pe | 17, 795. 64 14, 577/68: |)3;218.01 |.
PASSENGERS.
Number. _ Earnings.
In | De- : ee IL De-
1906. 1905. Cience erence. 1906. 1905. eee crease.
From New York: :
Hirst Classece2. sc. 3,083 | 2,006 TOU aie Mae $9524, LOS SUS 92 ee eee ee $2, 004, 82
Second class ...... 7 410 GLOn ey PE D008. qe VSS607.1 20 780nbo oars oe 991.58
From Europe: -
First class......... 713 607 | 106). 461722 15.017. 6h ee 400. 39
' Second class... 415 402 IS ok 1,858.49 | 1,849.69 3°80 ee
sOCAaL; sis arg
First class........- 60,976 | 22,040 88,936 |.......- 36, 646.24 | 17,691.16 | 18,955.08 |........-
Second elass ...... PLOD LOD Sle SO SS Tae sees oe 58, 017. 64 | 38, 850. 64 | 19,167.00 |.........
‘Motale 22a: <2 2) 230,702 | 107,056 | 1985646 |. 107, 247.66 | 72,518.57 | 34,729.09 |.......-.






24 REPORT OF THE PANAMA RAILROAD COMPANY.

Statement of classified: railroad earnings, ease, and passengers, Banani to Colon, fox
twelve months ending June 80, 1906 and 1905.















































































FREIGHT.
Tonnage.
1906. 1905. Inerease. | Decrease.
Through:
MOENG WeVOVk ea. ROPES Otc aS ea de CS cane 713;275 (SRoOBe eee ees 5, 058
MOUNGweOvle ans oe oe se igs Soe event ence Behe Stoel Gis | eeeeey: ene
MO ULO DE ses EN es ae Ses Rian were ieee p Nag aaa NECA 58,.442 74; 723 Rp atayrre ates 16, 281
Mote 131, 730. 13056 | 01.396
Loeal: oe oe
Commercial— |
Da Boca—Panamarsias oso a es ose ae) 9, 874 8, 004 WS UOn esac ces
Panama—Colonsc s: 2200 fos i ee 12, 465 4,724 CAS Sac ees
Isthmian: Canal: Commission: = 55.525 .5.. 22 8.5523 ae 81, 258 6, 516 TART Seiwa Sons
Companytreigh ties oe ee eee Ps ee 20, 499 8, 791 LAOS his foc one
Mota ee oN Sopaee (oer ae |e Siow 1001 | 28, 035} 9 06/056 |
Motaliteighte se 255, 821 | 181, 091 Ss We
Earnings: | Rate per ton. |
1906. 1906. Increase. | Decrease. | 1906. | 1905.
Through:
To New York ....... OED cete ms $214,847, 30 | $228, 813.87 |........2.-. $8, 966. 57 $2.93 $2. 86
To New Orleans.....2.......-.: AOR D eee ee ee PAO 2a eee ee es Oehlesietae oh
MOFHMTOPC see ee hae eee | 214, 618. 39 21 9E69e 608 | a. ee ee 65, 066. 21 3. 67 3. 74
Motalens a. ee | 499, 510,41 | 503, 493¢47 |. | 73,983.06 | 3.26 3.29
Local: | Coe eee eee
Commercia]l— | eee ai
La Boca—Panama ....-.... 5, 001. 97 el O49 EO Qe eit cer sae 7, 347, 35 aol 1.54
Panama—Colon............ | 35,071.05 16, 017. 48 OS ODSAO2QG ee eee 2. 81 3.39 :
Isthmian Canal Commission. . -| 76, 895. 86 10,224.99 | 66,670.87 —— oe .95 1.57
Company freight..... Se aces Hectares OS a stele AA EON pees [OLN eee emcee tees (ee soc
MO aes ee | 116, 968086 | 38,591.74) eared oe 04) das
Motaletreie ht. 2... = oe | 546,479.29 | 542,085.21 | 4,394.08 | FE dence kos ASU | Dla | o, 99.
MAILS.
Weights. eS = euues:
| Jin pe [ an be
1906. | 1905. crease. eee 1906. 1905. | erease. | crease.
Pounds. Pounds. | Pounds. | Pounds. :
MowNew York . 95). 100, 452 89,670 | 10, 782.2... 5 #4, 817: 59 | $4,547.53 $270.06 |.......-
MOWMUTOpPe.. 6 2s 6, 826 103785 )2.2 8, 552 642. 28 OS8n0n ee $3.40. 77
MOCa ees ee 8, 264 2,348 HO; OGM ee 1,017.74 DAZCSS. A OnOOn |e es
NG taN a ee 115,542 | 102,396 | 18 146 | ae 6,477.61 | 5, 772.96 |:704,.65:|..2.. 3
TREASURE.
Value. | Earnings.
-In- De- In- De-
1906. 1905. crease. | crease. 1906. 1905. crease. | crease.
To New York ........ $1, 278, 208) $1, 870, 159)........ $096, 951! $4,904.50} $6,197. 84)......... $1, 293. 34
He puTOpe Sei oes ieee 25897, 224| 25913, 543\5. 225, 16, 319 8, 882.15 8, 611. 26; $270.89 |...... Rae
ocal:
Commercial. ..... 5, 100 0}, DYADS Seno Ge 1, 426 Seo el Oe eee 2.76
Isthmian Canal eve 20, 000 HOOUOIS IE see 536, 918) 5. 00 134. 19}. wwe once 129.19





Motel ese ee ee 4,195, 582) 5,347, 146)........ 1,151,614) 138,800.40; 14,954.80)......... 1, 154. 40


REPORT OF THE PANAMA RAILROAD COMPANY. — OS

Statement of classifieds reseed earnings, tonnage, and passengers, Panama to Colon, for
twelve months ending June 30, 1906 and 1905—Continued.























BAGGAGE.
Weight. Earnings. :
In- De- De-
1906. WOOO; | Greaue: loreace | Lee 1905.. | Increase.| arose.
Pounds. | Pounds. | Pounds. |\Pounds,
To.New York ........-- BAO eMedia ae oats 13, 370 ae 21 $645.35 |....- Semes $192. 14
Pe ROPMUTODE eee sc se. coc il, 500s Sees DOOR amen ae SR OOE Se aa ho: GOs ce aes
TOC a ee ee 908, 205 | 529, 007 370% IGS Wesnes eee 876, 94 G5 8263222) 2; 0505 722 \o22 an
Motels se 933, 806 566, 478 AUB: | SOU ,O20 eae cee 12,333. 75 “0; 471.67. 57 le SO2N1 8a ae seers
PASSENGERS.
Number. Karnings.
a ~ 1905: In- | De 1906: i905 | merense| | Des
s * | crease. | crease. : oo eee crease.
To New York: :
Hirst-classie:. 22.02. 838 | O98 Hees NGOs 4889508) BOBO I8e iE oases ee $2,643, 25-
Second-class ....... OES Me GOE tcc ose 247° | 4,092.05 |. 5,587.87 |2.:-- 22 occ | 1, 445, 82
To Europe: ele
First-class.......... 473 DD ASG |e Dooke2e | 19840207 Sl 4bseO2ee oe ee
See us ee 82 OF ecia. oe 47 360. 25 600. OO Sees 2393-75)
ocal:
-First-class.........- 59697 Qa dG8r ls 30.0840 |e ccc 30, 110.70 | 16, 870. 92 SCOR OE SH ete se
—Second-class ....-...| 155,525 - 85,199) 70,826 |.-....-.| 45,060.01. 30, S18. 18: | T41Sl 88a) 22 7 ge
Motel oes 217,528 | 110, 874 | 106,654 |.......- 92, 899: 26 | 68,358. 45 “99, H4b8E |e eee ee.

EXHIBIT I.—Statement of railroad freight statistics for twelve months ending June 30, 1906.

Grose earnings (2.0...) ee a ie Se $1, 718, 389. 68.
Freight-train mileage (including all mixed-train mileage) .......-. ae 172, 243.
Rreishtitraims, per day per mile of road_. 232. .:..5.5 92... 9. 42
Doadedecar mileage. 27) ee 2, 192, (O70
Hmipty-car mileage Gneludine:caboose)=-..- 22.5 22 877, 216
Percentage of loaded-car mileage to total freight-car mileage (includ-

IMO CO OOSE) 2 eee ee 71, 48
Loaded ineioht cars im each treioht trail .@=. 2.2.0...) | 12. 73
Em ty freight cars In each freight train (including caboose) Ce : 5. 09
Loaded and empty freight cars in each freight train (including ca-

WWOOSC)\ ats sae ee ee ee ee 17. 82°
Ronsscommencial treet 8 se 622, 275
Tons commercial freight 1 mile.............- ORs ee ng aa 25, 348, 111
Mons companyrireight 206 02 22 eee ce 43, 435
Mons company ireishtl mile °.1.... = 1, 258, 117
ons allivetoht. 9555s, oe ea 666, 710
Tons all trerveit Tmiile 3 26, 596, 228
Tons in each loaded car (including company freight) oe ee 12. 13.
Tons in each car loaded and empty (including company freight)... .. 8. 66.
Mons in cach trains 227. Se 154, 41
Hanmings sper ireieht car permile........... 0 cents. - 50. 97
Average distance ‘freight Carnie (miles) i024 ee 40, 73
Rarningssperireromt=traim mile. 0:9). $9. 98
ArHINgS per toners ke ey $2. 76
Harnings: perton permile <8 e cents. - 6. 78
Tons carried 1 mile per mile of fonds 2 ee 505, 849
Darnimgs pen mile of road: 3. bree Aes Maen $34, 292. 36.
Estimated loaded Carsm eachitrain 2662 ee 15. 59:
Revenue freioht-engime mileage «425... 191, 763
Kstimated loaded cars hauled per revenue freight engine... 2-242... 14
Tons hauled per revenue freight engine................-.22.22:.- a 138. 69:

Norr.—Above form of statistics inaugurated July i 1905,
26. REPORT. OF THE PANAMA RATLROAD COMPANY.

Exursir J.—Statement of railroad passen ger statistics for twelve months ending June 80, 1906.

Gross earnings (including mail, extra baggage, and treasure).......-.- bo49, 419. 48
’ Passenger train mileage (including all mixed train mileage) -.....--.- 164, 811
Passenger trains per day per mile of road 220-2225 5252- 5525-6 no. 0%
a Coarchimulledoeu ss ee ee ee ee oe 594, 679
Baggage, express, and mail mileage.......---- Oe eel — 164, 208
Total passenger-car mileage........--..---- spe Oe ee 758, 887
BABSON COCKS CARMeds {8 te pest ee es es See G 448, 230
iRassenwers carmedak miler 258s o5 his. ees a 6, 302, 957
Average distance each passenger carried....-..-..-----.+-2222---.--- 14. 06
qeasseneers in each, passenver tral. 6.3.5 eee 38. 24
Passengers in each passenger car (excluding baggage, mail, and express) - 10. 60
arminesapen passenger traim mile 22052. 8 ete 2. 12
Harnings per passenger car mile (including mail and See : _cents.. eee ES AGL OAL.
Cars in each passenger train (including baggage, mail, and express)... 4. 60
WanMiNGs Per PACSCNOeCh seek lk eee ee cents. - 44. 69
Earnings per passenger per mile.-........---- Rene doe. 3. 18
iRassensers I mile permile of road... 20 5522 e eee ee 125,782
Harmines per mile of Toad... ee Ee eae 6, 973. 04

Norr.—Above form of statistics inaugurated J uly 1, 1905.

Exursit. K.—Statement of railroad general statistics for twelve months ending June 30, 1906.

Average mileagre Operated: Sy 28 a eee 50. 11
otal ireieht and passenver earmings... 2.5 25. 62 3 $2, 067, 809. 11
Motal treieht and passenger expenses: 22.2. = 2429-222 -2-- = dL, 479, 651. 69
Net irei¢ht. and passenger eamings 52.0.2 02 22s ees $588, 157. 42
Percentage ol freight and passenger expenses to freight and. Daseee |
(CRN NOUU AYO a ee ee ene Oy ee a Ne GO ea ee OO ©

Motal-revenue train mileave. . 5... 425-0) 5 o21, 406

Gross carmines per revenue trai mille. 2229-2) 2 eee b6. 43
‘Operating expenses per revenue train mile........-------..--------- _. $4. 60
INetrearmings per revenue tram mile... 222.22. ee 7 D1. 83
Motal Sross Carmings 292 8 ee: So eee ee 2, 070, 828. 03
shotaly cross expenses... {2 eee ee ee ee ee b1, 731, 888. 55
Net earnings, all sources -.-...- Be Oe I ee 838, 939. 48
Percentage of gross expenses to gross earnings.....-.--------------- * 67.37
Warnes per mule Ol Toad. 2 4 2 ae ee Be eee $01, 308. 69
Expenses per mile of road--.--..-- ee ee ea OGL Fl
Net earnings per mile of road.-.---- ee ee eee 16, 741. 98

Norr.—Above form of statistics inaugurated July 1, 1900.

Exursit L.-—Statement of railroad freight tonnage handled year ending June 30, 1906.
(1) FROM ALL POINTS TO ALL POINTS. :























| 1906. | 1905. increase. Decrease.
Colon to Panama. Per cent. | Per cent.
HroOmeNe wy OLketOn Sam HranCisCOne sos sae ta tee eae 25,914 SO;2G0 8 eee eee 26, 51
From New York and New Orleans to Panama, South Pacific,
CentraleAmerica. and Mexi Coss see es eee ee 75, 040 69, 479 Sh00F ee ses
From Europe to Panama, South Pacific, Central America,
MCxICOs ANG: SAM HTANCISCO: scat ee ees SS es ee 105, 710 92, 194 1A S663 eee = arta
From Colon to Panama (local): ci
Gomimuerciaileinei gies sees ee ee ee eS es | 48, 159 32, O11 OF 08s ee sees aye
JsthumigmeCamals COMMISSIONE ose ee ee te cae | 137,129 39, 342 248 OO] se ces ess
Company trelgbas se Slee oe eS Sc See | 22,938 By pele lagoaarGade ~ 30. 25
MO es ee eee ree | 409,890 | 301,171 | S640 (a eee
Hrom cam-hran cisco tOiNew. VOL. 2... .2.06 se 3 55s | 24,937 SI 240s eee se 20. 20
From South Pacific, Central America, Mexico, and Panama : .
OPNIO WE OD KGa ieee Ae eats a cols cesta ie, eon eee | 48,351 47, 084 | QE OQE eS aees
From South Pacific, Central America, Mexico, San Fran-
cisco, and Panama to INMINODC Geshe cee Se ee Ae 58, 442 MESUZ3E | Roe aise 21.79
From Panama to Colon (local): .
Commencialarel ght oc. 8 eS ete Lone se aetstee etree aicie's 22, 339 12, 728 (DGDIS eee a Soar
ls7namian Cana leCOmMiASSsiON se osteo c oc chose tee eee st Oly 200 GO. ORs AE TAGHOS ie ae sess
COMPANY: HEIN bes. 2 oe bos Se a feacl 205499 8, 791 WSOSES tee ees aes :
————— |} ee een
GMO UNL eee ee eS Ue See eas ia ae ote crate oar e ase 255, 821 | 181,091 AE eee are ie
Total westhound and ea bound! Beene ee ee ~ 665,711 | 482, 262 Bieh UME iocanasceS-



en ae ee —
.
REPORT OF THE PANAMA RAILROAD COMPANY. 24

Hxurpit L.—Statement of railroad freight tonnage handled year ending June 30,
1906—Continued.

(2) COUNTRIES OF ORIGIN AND DESTINATION.













Colon to Panama. . :
HorPaname 00000 oe ee 80 74d MO NO60, oF SA NO0) ey eee
MOme@ ential AMC TCA ee ye Ae eee eee ea ‘....| 61, 454 GI DOSs ie eee 0.19
For South Pacifie ......- HG aa cae VR mt NN SVC cal wiz taiat cle aie gc bien 75, 796 68, 890 TOSQ 2 ee seas
MOM Sane MAN CISCO mec. ce eee meee a cians SST ees 27, 164 Sie OD ee 26.79
HorsMeXiCOs sos eee en! eee ee ee 5, 732 3, 951 4508), | eee eee
GIRO et aoe are ae 409, 890 | 301,171 SO810; ae
Panama to Colon
IMROMeEP ANAM eo eee ee eNO ls NG SEU Ses 137, 316 A326. 145 202,100) |i ee
Hrom\)CemtralyAmerica. 2... -2 9 ee etna rie ae oes 41, 573 DL 048 oe 18. 56
HOM SOUTHER a ClING esas ee te Sha Nese upset 1c) 7 495326 BU 20 ane seme ete 47 60
HrOM SAneWranCisCOnm rer ee eee ie a ia ec 20; GlOs| O2IS2e ce 20. 41
rom: Mie X1COis 322 eee seater eee Ree cee. Ji BE ee see ee 1, 99u S06 Ay 02a eee
Motels. ee a ee ee 955,821 | 181,091 | 41,27 |... cee
Total westbound and eastbound............:....-2.--+- 665,711 | 482,262! 38.04 |......... a

Exarerr M.—Statement of steamship statistics for twelve months ending June 30, 1906 .































and 1905.
FREIGHT TONNAGE. ,
1906, 1905. Increase. Decrease.
. Tonnage]! ay,-; Tonnage . Tonnage - |Tonnage
ships. carried. Ships. carried. Ships. | carried. Ships carried.
Panama railroad ships: |
ASE LVIC CS: hats See cae 38 36, 673 30) 48,885 Soles ce Ne cease 11
Salledes Go sesos fee 37 60, 799 Sale OO, ANON ee Coe eee eee vee Ale eee 8, 317
Chartered passenger ships:
APMIVeds se ae eee 27 31, 728 QUE OO DON Sire See ee apes cea 1, 402
Saledie scene Gaon ec se eee 28 69, 097 26 | 52,864 Dials Gs DOB |e see oa ie eres
Chartered Provelil ships or
sailed gr yom ace Ae nan enfant eae ee eae Dice LD Wd AO eee seats os Me cease tenes 3 12,779
rd ere | or ere rena err ene eee eee eee |e sane
Mota 130 | 198, 292 A 2S QUO STOO le cr Ole ee rae ccs yes 18, 477
ee me oe i 4 ‘ Z : TN a SAG ceo Meanie eee
1906. ae 1905. Increase. Decrease.
ru LOSE eS Sere or aa | ‘canes eaeeaaaa i aaa eae Se ee
Total freight earnings ....-. $848, 564. 29 | POD VSO ROA Sees Si iia | : $72, 716, 25
Average rate perton........ 4,28 | 4,25 POS OB: ee is eee i Can erate
io

PASSENGERS CARRIED.



































1906. ' 1905. Increase. |. Decrease.
I eaeccn epascens Passen- . Passen- |
: Ships. | gers, Ships. cers. Ships. gers. | Ships. gers.
al on nae BENE: Le eS aes
Panama Railroad ships: : . |
SAT TLV. COS ia ae hee Gee es 37> | 2,477 od 1, 839 3 | GBS eee Sas SRO
Sailedie see 37 3, 144 3D 2,183 |. 2 | QOD eer eee erate
Chartered passenger ships: pan | | yea -
Rrivcd ee OT | 2,578 27 160) oe | BY a ele
Giilede 8 28| 8,056 | 1,436 en ee ee
Motale 6 | 00 Ie enor tor 700 84 2a tele ee eee |
. ae Ce Le ge
1906. 1905, | Increase. Decrease.
Total passenger earnings . $319, 014. 62 $265, 832. 32 DOO; LOZ OO see See ire Weisser
Average rate per passenger. | 28. 36 STADE eae eee ose $9. 09




98 REPORT OF THE PANAMA RAILROAD COMPANY.

Exursrr N.—Statement of locomotive and car equipment.















Pore: Passenger cars. | Freight cars.
: 2rd
oO a Qt
f |e oe
Aas ~ ao 0 a CS.
| 8 | 42 Se |e | s
So |e |e ce eee = oer
robe Ol ara eae BO ee ae
I = Or (02 NER & 80 i 3 3
o = a, fat ey CU Qos S © ° =
a MD wD & |O nD mp pO Oo fy
Stock on ume 30; 1906. 22.2 525 cose 48 11 5 Saieoees 11 Ce oon ele 137
Stock on Dee. 81,1905... .2.2.....1.02) 27 dl | 5) 8) ae 10) 7) sel i| ie
Increase during 6 months..... stele QDs fdek Pee Ags Cater |e ee eee fe eee Ole se pale
Decrease during 6 months /...... | Se TLS SSE ee Pees [Pee es caeeces: 11)
Miscellaneous.
| Fa uigaS [waa es aes
1 t 2 a Se
‘ ie ® 5 ° Os
ee ae ee
& | bb | [oe eo | a | ae | Se
S = © : Reo ae |e es 3 ate
= rm oS o BH lS ae g [ed oO} oe
oS 9 } rs ee ls Se Bae m &
Sle ee) fie is ee is S io Lao
= > oO DQ S m | MD m | ha
Stock on June 30, 1906.......---. AAG) tl | Oe SG set ta 10 7
Stock on Dec. 31, 1905.........-... 20 Dee el 2 8 9 37 1 S| yrnces Bcieore
‘Increase during 6 months.|......|...-.. eee 14 ee 10 7
Decrease during 6 months. Ae AAS SETS OSHS Sasa ate ces | cee tap ne eee ere li Fete Ua osc | ones ea



Exuisit O.—Statement of floating equipment.



Passenger accommoda-









Gross tion.
Name. ton- |Length.| Breadth.) Depth.| Hull. A
nage. First- |Second-
class. | class. steerage.
1 Dts Ges | J8lhs Oy 18 Cle
Steamship Allianca........... 2,985 | 303 0 42 0] 28 9} Iron Or eae (a)
Steamship Advance.......--.- 2,605 | 295 0 38 4}| 28 41....do 62 36 a
Steamship Finance ..........- 2,608 | 300 0 Boo 4 | 23s OF ae O Ore 66 36 (a)
SteamshipPanama(chartered)| 5,667 | 360 0 50 0} 382 21 Steel 60 45 (@)
Steamship Colon (chartered) -.| 5,667 | 860 0 50} 0: 12 327 23 ee do- 78 58 (@)
Tug Bolivar, at Panama...... 234 | 127 0 23° 0 DOr SIRO Sas | ae Neen NL Sas
Tug Cristobal, at Colon....... 161 | 102 0 207 2 sal De 02 | 8O OC nel ies ees cee eeu ae eae
: sheathed
4 freight lighters, at Panama . 200 | 108 6 24 0 Wee Se | SU @ Meera ese ICE Snes erent
1 freight lighter, at Panama 0. 275 | 108 6 24 0 Eee | er OL Oeee | ae arcs lise cee iay ere an saan star
1 freight lighter, at Panama .. 300 | 109 4 2450) l= 0 AGL Opec eae de ee a
One ane ie as ee ren 300 | 109 8 24 0 Ue OES Oa els co eee eral ireeake eh ce aes sera
2 freight lighters, at Panama . 300 | 109 8 24 0 Cheap Re a0 NOY aap ly a epern ete Ds si
DOR eee ro ee 300 | 107 0 D3 TEP Be CoP Ores | BSS See PSEC | Et a ae
3 coal lighters, at Panama.:... 222}. 110 0 24 0 S220) Eee Ome OSes cae ea [Ree ees
1 floating pile driver, at Colon|....-.... 60 0 30 0 BO WOO a xt ck Poles oo arn es
1 freight lighter, at Colonc.... 300 | 100 0 24 0 See Oo rome es Boss so ol aya aaa | Beeman a



a Standees as required.
6b Decrease—One lighter since last report.
c Increase—One lighter since last report.
REPORT OF THE PANAMA RAILROAD COMPANY. 29

SUPPLEMENTAL REPORT SHOWING THE RESULTS OF THE COMPANY’S
OPERATIONS FROM JULY 1, 1906, TO OCTOBER 31, 1906.

[Presented in 1 compliance om resolution of the el of directors adopted at its meeting of April
2, 1906 s

Exursir P.— Income account and profit and loss account for four months ending October
31, 1906.

INCOME ACCOUNT.





















Railroad:
Gross CA LMI N eS TOMO PeTAUOM ss cken cae cece. fee ee eee eras $963, 745. 94
Operating. expenses: -.2.5...2...2- Ge eee 612, 616. 59
Netecarnings: from operatlomentasn toons eee oe eee ae aes ase eee ree $351, 129. 35
Steamship line: :
Gross earnings from operation ....... Yeas spo erciete eae Sts SOU Ne teenie Moe eee Rare 512, 366. 71
Operating: CXPCnSeS ame meets ee ela eee Ges Sites Sans oie oes cient cea 451, 914. 09
Net earnings from operation ... a ee eee eee Puree 60, 452. 62
TLotalearninessroOmOpehatlOMet = ss cose yes ON ee pec ee Soe alate sae eens 411, 581. 97
Add income from—
Interest ON: SECURITIES O WMC oo niece hse eo oc oo ER eee 2, 686. 25
Imterest:-and exchanges a hee Sane roe eo Sa os Ns ee ae 74. 53
| 2,760.78
ess:interest: on! loamsr ies a Ree ee cise (ere oh Nortel 7, 647,18
ee a4, 886. 35
Total income ........ de poor uene Be ee er a | Suen ecient 406, 695. 62 ~
Less—
Interest on funded debt, first-mortgage 44 per cent bonds—
Interest on $2,272,000 July 1, 1906, to Sept: 30, 1906 -.-:-.-.--.: 22222. ....- 25, 060. 00
Interest on $2,163,000 Oct. 1, 1906, to Oct. 31, 1906 ...... fs vtiese eee raeis 8, 111. 25
38, 671. 25
Less interest Apr. 1, 1906, to Sept. 30, 1906, on 119 bonds drawn for re-
demption and paid by ‘trustees in October, SLOQG ore ye ee rene - 2,452. 50
esis j 31,218.75
Hirst-morteage: sinking hin Ges oe ces oc on sates eee ee 50, 000. 00
Concessionary subsidy to United States Government under treaty....-. 8, 3838. 33
Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds, 533 bonds July 1 to Oct. 31,
LOO Gc Se Se eee iin rs ch Nee eae ce aol Mae $10, 660. 00
Redemption Ob-subsidy ponds... 262 5.. .4.2 2.622. 64, 340. 00
—————| 75,000.00
————-———| 164,552.08
INE Income tor tourimonthss sa. 52-2. 8. AUER ear eos cer le nee Same eae | 242, 143, 54
PROFIT AND LOSS ACCOUNT.

‘by-balanee to credit of profit and Joss june 30; 1906222... 2.225225 ss eee 5, 088, 589. 81
Surplus from income account for four months ending Oct. 3.1906. 5 Sa es 242,148, 54
First-mortgage 44 per cent twenty- vear sinking-fund gold ponds, re-

GON eae ae SOE Voge Ste I RITCEET Hares ois Spa Oh gar anaemia ton ons ean 140, 000. 00
Value of material recovered from lighters Nos. 6 and 7, condemned and

WirittensOt December WO0r te sete Sos es Ses Ss eels eee 100, 00

, 5, 470, 833. 35

Less sundry accounts written off, net................... ua Oats ons reyes iere | Skee eae 243, 53

Byg balance to credit On proniand loss Ochs sit M906. oo. ge se ee eee 5, 470, 589. 82

a Debit.
Exursir Q.—Balance sheet, October 31, 1906.



Cost of road, real aplnie, and equipment....-
Improvement and construction accounts. ...
Floating equipment:

Steamers Allianea, Finance, and Advance.......---
Muosvan Geliehters = sss ses oe ss eee 5 oe

otal: cost OF property: -.c2. 225-5.
Bonds in treasury:

100 6 per cent Panama Railroad Company sinking

LUMGYSUDSIC ye DONGSee.2 22-522 eee

628 41 per cent twenty-year gold sinking fund bonds.|_

On deposit with finaucial agents for redemption of bonds:

41 per cent twenty-year gold bonds......
6 per cent sinking fund subsidy bonds. os

Advance of subsidy to Republic of Colombia
Current assets:
Cash in banks and with agents
Coal and supplies on hand...........----
Due from connecting Gompanies......---

ener en noes

Due from United States Government—
Isthmian Canal Commission.-....-..
Post-Office Department ..........-..
Navy DECPATEMenb eee se ee

Due from companies and individuals. ae
Miscellaneous accounts..-... 2... .-2:-

Unearned insurance and charter of steamers.......-

General average disbursements.......-.-

worse eee ete ee

12, 940. 36

mewn ew ee eee eel wwe ee eet

wee were wre meee leew ee ee eee oe os

$096,749. 66
290, 943. 80

em ee we em ee welt we t weett eeeae

100, 000. 00 |
628, 987.50 | |

47, 386.17
| 2,000. 00

ee |



584, 721.37.
355, 077. 21 |
192, 351.80 |



211, 576. 52

28, 361. 94

$12, 541, 149. 66



895, 063. 78
|
887, 693. 46

14, 323, 906. 90



|

128, 987. 50 |

|
|

49, 386.17
533, 000. 00



1, 683, 085. 80
17, 318, 366. 37



i

Capital stockac sos ie ee Sais en pe pe Sa pee ee eas

43 per cent twenty-year sinking fund gold bonds (author-
ized issue, $4,000,000):

Issued to date (4, 000 bonds, Jess 1,121 bonds pre-

VIOUSTYATEG EC MCG!) esas ee ee a ee

Less drawn for redemption in 1906..:...-..--.-:-...-

Total capital stock and mortgage liabilities .....--

6 per cent gold sinking fund subsidy bonds@ ........-...
Bonds drawn for redemption not presented for payment:

41 per cent twenty-year gold bonds -.............-.

G.pericent SUbSIdVeDONGS 2525 eae ee

Funds for ne of bonds:

eer e ee ew eee ewe ee ee ee ee

Equipment and plant replacement BUT Serna ses eve see

Current liabilities:
Due to United States Government—
Concessionary subsidy accrued....---
Bills payable—For cash appropriated
through Isthmian Canal Commis-
Sion for new equipment and im- —
provements

wee ee em ee ee we ee ewe eee



IsthimuUsidratis Neb presented 2252222. .252 5 ee
Coupons molt presented ee
Accrued interest on bonds:
41 per cent twenty-year gold bonds
{2,163 bonds)
6 per cent subsidy bonds

$8, 111. 25

errr eer eee eee eee eee ewe

eee ee ene ee wee

Audited vouchers;and pay rolls. 22-6: -2.2-- 2. <2 22-2

Due to conmecting lines: 22. --2.22...-2 Hee ene Sa eee
Miscellaneous accounts
Unpaid wages

i ee rn ey

Balanee:to credit of profit and loss. : --22.2.:2-.--2----.--

a538 6 per cent gold sinking fund subsidy bonds of $1,000 each, amounting to $533,000, issued November 1, 1880, fall due November 1, 1910.

To meet this bonded indebtedness, $225,000 annually of the Colombian Government subsidy was pledged till March 27, 1908, the same to be applied by the company:
First, to the payment of the interest, and second as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an
amount equal to the then surplus of the subsidy sinking fund, the drawn bonds to be paid on November 1, after each ‘drawing, and there ey: redeeming the whole issue

in. 1908.

~



$17, 708. 33

15, 990. 00



$7, 000, 000. 00

$2, 879, 000. 00

140, 000.00 | -
See 7991000500
ee 9, 739, 000. 00
Eee | 83, 000. 00
47, 212. 50
2, 000. 00
one | 49,212. 50 -
7, 613. 67 |
240, 275. 00
——| 277,948.67
eee | 82,294. 92
|
597, 708. 33
24.138. 51
4.275. 00
94,101.25.
497, 502. 68
54, 563. 52
29, 529. 94

4,501.23 | :
| 1,166, 320. 46

| 17, 818, 366. 37
|



5, 470, 589. 82°

‘ANVdWOO GVOUIIVE VINVNVd qo HO LYOdus
REPORT OF THE PANAMA RAILROAD COMPANY. 31)

EXxHisir Vee Summary of earnings and ex penses for four months mding October 31, 1906













































and 1908.
1906.. 1905. Increase. | Decrease,
Railroad earnings:
Colon to Panama. .:252-225.. Bee ain ences | $567, 830.389:| $391,198.45 | $176,136.94 |...... 2...
Panamacto Colones: We eterne vfs cess | 224, 938. 69 175, 512. 39 49. 4061 80st. eee
MisGel lam OOM ce ste Sees eee eae Sees. 171, 476. 86 158, 504. 70 LER OWD Gi vara cee
Motalravroadsearwines. 7-02)... sce 963, 745. 94. | 720, 210. 54 | 243, 535. 40 Leen eee
Motal rawroadsexpensesise.. seems. ss ce | 612,616.59 574, 819. 73 | 37, 796. 86 [occ eeee esses
Net earnings............. Se | 351,129.35 | 145,390.81 | 205, 738.54 |............
Per cent of expenses to earnings... ee, | 63.57 | TOE eee ae ate iG oe
Steamship lines: ~ | | 3 Sn a ee
Motalearnings: -2........- SMe ehenemeen eye eines | 012,366.71 | 400, 446.73 56; GLO ROS Si ct ea
Mota CxXPenSess = socsec ee ee eeu Sek cs os Pe ao OLA OO PaO OSbe QO eee ease | $18, 967. 20
Netearmingd 05 (ee ee | 60, 452. 62 | _ ab, 15, 434. 56 66| 87 18 |e ee
Per cent of expenses to earnings.........-- 7 S00) es O80 eo | 15.19
Grand total earnings ......... ee. 1.476, 112) 6b | 1175, 657.07.| 300,456.48 |
Grand total expenses -.............--...-.-- 1, 064, 580.68 | 1,045, 701. 02 1S 8295 OG! seep en eee
Total net earnings .........----- as aiesciey 97 | 129 129, 956. 25 25 | 281, 625. 72 72. ee

Per cent of expenses to CANINE Says sereccrere sc | 72, 12 : ~ 88, 95 - Le a see 16. 83
a Deficit.

Exuisir S. Suen of daca railroad earnings, tonnage, and passengers, Colon to
Panama, for four months ending October 31, 1906 and 1908.

J





















































FREIGHT.
Tonnage. Earnings. _ {Rate per ton.
In-
ce 1905. ERE. 1906. 1905. Increase. | 1906. | 1905.
Through: ;
From New York ..... 34,544 | 30,599 3,945 |$122, 084.92 |$112, 015. 40 |$10, 069.52 | $8.58 | $8. 66
From New Orleans... 1, 545 801 744 5,160.45 |; 2,958.55 | 2,201.90 | 3.84) 3.69
Joop eal ID WhoOXe) Cone eg see 40,119 | .32, 387 7, 782 138, 666. 28 122) 423,21 16, 243.07 | 3.46) 3.79
Ota ge Sree ees 76,208 | 63,7837 | 12,471 | 265,911.65 | 287, 397. 16 28,514.49 | 3.49) 8.72
Local: ae
Commenciale..3 =: | 28,819 | 12,412) 11,401 | 82,867.66 | 50,050.02 | 32,817.64 | 3.48] 4.08
Isthmian Canal Com-
MISSION: 2 cee ee 665935.) 2952738 >) 37, 662 135, 874.32 | 39,244.24 | 96,680.08 | 2.08 | 1.34
Company freight..... 10, 686 5, 628 5, Sif See | cae | en el eos
Robals Mees kee 101, , 440 47,319 | 54,121 | 218,741.98 | 89,294.26 129,447.72 | 2.16; 1. 89
Total freight ....... “177, 648 688 “Ti, 056 | 66,599 | 484, 65863 | 326, 691. 42. 157, 9 962.21] 2.78 x 2,94
MAILS.
Weight. Earnings.
In- De- In- De-
Oe: 1905. | crease, | crease. ney 1906. crease. | crease.
¢ | Pounds. | Pounds. |Pounds,| Pounds,
From New York ......- --|:384,.000 | 339,000 | 45,000 |. .<.. o..- $22, 812. 79 864; OS sister ene $2, O51, 29
HrOOMMUTODe {226 ee: 53607-98451) @89) S46 alee: 2 898rl 3; 046.025" 8.204. 16n Geen 208. 14
Local wetter e teen eee eee 27, O79 OS OAT sees 31; 862 | 1,920.84 4,701.08 | $773.67-1. 22... ae
Potala 448, 027 | 437,787 | 10,240 |.....-. .| 27,779. 65 | 29, 265. 41 Joccttee | 1, 485. 76



yx
32 REPORT OF THE PANAMA RAILROAD COMPANY.

einen S.- So sialenon of ad Tn HEIs, i onnnge, ae passengers, Colon to
ae for joe months ag October 31, 1906. and dade, continued.





























“TREASURE,
Value. Earnings.
In- De- LL ‘De-
1906. 1905. |, crease. reroncel 1906. | 1905. Ine Crenge,
Som New ome |~g90, 646 | $538,513 |..2.2.-.: 19447, 867 | $177.35 ($1, 144. 61 |......---- | $967. 26
aro WULOPC Sse ses. os 1, 446, 913 $72, 209 gon) OSE Soe cies 4,381.21 | 1,780.91 |$2, 600.30 )........
ocal: . | ee ie eo
~- Commercial: .......-. 164, 680. 28, 500 : 136, 180. 90, 000 2247.02... 59:00: 11885025 |0 22. 22.
Isthmian Canal...-.-)...-..---.), 90,000 | SUSe ata Scant Gina Che ere resents rca 22, OO | eet su ek . 50
Motels ene 1, 702, 939 |1, 129, 222 | 573,017 | ee co .|4,805.58.| 3,007, 02 |.1,798.56'|.........
BAGGAGE.
Weight. — ae ~ Earnings.
So ee ae
1906. |. 1905... crease. | crease. _ 1906. 1905. | crease: | crease.
Pounds. | Pounds. |Pounds Pounds. es
From New York -...--:+-:| 61,405 | - 45,036 | 16,369 |--:....- $340. 39°} --B725.11 |e20.222.- $384, 72
From Europe soso Seat 50,607 | 21,491 | -84,116:)........ 7 112.14 455.75 $656. 39 See rarer
GOCA Es aoc ae Soe een PAL Bxo19) || PADS TAU We hs} osgenaas 4, T2IO9E Ss DoO, 21s HON ASG se. ee
Motel 24, pese 897 724 | BIsAGStat-.---- 557400 | Ae 7it07, | assem |.
PASSEN GERS.

Number. ota Cana :
tat aie $3 Th | «De- hop Sos De-
oe 1205. | eee ee ice iG 1905. Tnerease. crease

From New York: ee ee
Wins elasgees-. =. 1, 220 + my ee QQF--- DO a Pancreas gh € 692. 88 | $38; 098-03 | $1, 594585 |2 220...
Second class ....- 87 Deal Severs ae “64 381. 37 G42 Di Soe 60. 84
From Europe: ‘
pbirsielacs ess 2908 200 83. Lowe ewey we | dy 446,57} 1, 282,-87-|--—- 4635-70222...
it Eecoud class. emcee 154 138 LOS seeveet et 622. 06 © 583. 70 SOTO R ese
oca 3 Ss esa
First class........ 445 334-6 14, 160 | ~80, 174 |e dosee ase 000. 33 Sy2882) 9. O7Or Olsen ve a:
een Bees Files 74 172: "46, 051 ae 28 721. ; ict9, 074. 16%) a3, 887. CO = By Mele, AD oascoece
= ee oc : ek 61,700 |" 69; 159" m8 Sec cee (% 46,517.31 31 | 27,51 B18. “58 | 16, 998. 78 Jeet eee



‘i thet peer i? —
5; cet Phe

a _ Statement of classified raunoad earnings, tonnage, ae Ca Panama, wo, Coton, For
Bae ee months anding October 31; +1906 and. 1905. ) patnedial















| FREIGHT. ee Ss a; eae é _ ts a ae UNG ERS,
: Tonnage.
: Be = LONG. -~-1905......- Increase, Deerease
7 totes Ree
PHONO a oe 18,613 QOV OO) | eaeeceen cs 7, 063
mlosNew Orleans. ee sis Sos So Be ecards eras oe Wah ton | ie See
= OCW UT ODO crop doe eee rowreeiie ean teste cee esos os < Sc AO 20 eee Dire By el ae fects tose
og TOtAL ee neeccnete eateger ete eee tec ceeete ares] 6B) 242 | 87,898 |p senel a 4,651
Stoel Ene <4 re oe Ser ar Ge hear oS are.
oo es /Conimereial— Pear 2 SEN [item Seema Soin cherea
oa La Botner Ee A hee etn ee alate a alors ciate reise vee 4,964 1, 681 3, 3 288. Weve ne sou
Parma Colon ci el Pe SG Baie Sonne ee 15762" 9" 695° Nie eee
‘Isthmian Canal Commission... Beene vers ae eee ee ae ee BO Dy DAO | AG 906.4 ones. -
iP Companvamelontes et ek ee Gy es 1,062| 3, 65 |. ee S56an 2,208
Mo 36, 659 | 15,978] 20,681 |.........-
Motalereients oe ee 69, 901 | 53) e7i | 16030 hae ae
nw

REPORT OF THE PANAMA RAILROAD COMPANY. 33

Slatenient of classified railroad earnings, tonnage, and passengers, Panama to Colon, for





































four months ending October 31, 1906 and 1905—Continued.
FREIGHT,
Earnings. Rate per ton.
1906. 1905. Increase. | Decrease. | 1906. | 1905.
Through: Fe a |
To New York ...... epee ee toc $57, 424. 09 Die OOOsaO elec cee es $15, 244.40 | $8.09 | $2.89
NO NG we Orleans cect ccce eae oe De OES | Meets water 254s es ee ee
| 10 WUTOPC <2: -0s-< NM EAS Sea craters ' 46,708. 21 42,706. 00 | $8,997.21 |...-.. seers 73-1912 3550
Totals; scan. ee ee eee NOL 2780.1 Atb; Sav 03 [bees co: =: -- 11,249. 73: 8.13 | 3.05
‘Local: ae oe ee eae
- Commercial— ,
La Boca-Panama...... Bie cities ss 2, 471. 31 8402:357|— 1630996: 4-2-2222. 200 122 550
ee STethiniini Canal Commission. ........ 52, 309. 44 45 883. 97 36, 4D AT lence e nee QeO0 nla:
__ Company freight.......... Ge ta ges ee eens nie walle casos ear 1e ote a lo iele creo taloce | erateral aa eis eretare | ieee reel reer
Otc ee srtcree-e++-| 69,999.68 | 24, 861.45 | 45, 188.23 |.....- eacne-| 2 OL | £56
TNotal treight:<2.220-- see 174,126.98 | 140, 238.48 |.38, 888.50 |...........- 9.49 | 2. 60
MAILS.
Weights. . Earnings.
| , 1906. | 1905. | crease. | crease. = 1909. | crease._| crease.
: Pounds.|Pounds.|.Pounds.| Pounds. |
Mo New. York .<....<:. eee 37,856 | 34,224! 38,632 |.......- $1, 782. 84 |$1, 617.89 | $164.95 |........
MOPVHULOPC 2. oon cc cee DAO a 38097 acc eae 1, 427 228. 92 BUBB) lasececa sn $118. 93
WO Cal ess ie oe ee earn 1; 381 S347 1 O47Gl nee ee 836.738 | 27. 22 _ 809.51 |....--..
(NOL eee coscunay= eee 41), 407,138,155 | 3,252 |. 2.2. 2, 843. 49 1,987.96 | 355. 355.68 | Saeecas
peers pgitsa uel as i ae ee ete open Sunwear ena ciee a See a ‘TREASURE >> ecto pee cee ag ieee rece ceerentiert
Value. a seasons Earnings.
| | In- De- :
1906. 1905. CREE. | GHEE. 1906. 1905. |Inerease. |Decrease.
To UNew York = = .....; $580, 653 | $589,895 |......... $9, 242 |$2,358. 85 |$2, 272. 39 $56; 46: eee
ze ULC Sa SU ees (OV 4304)L 181836) |2-=~. - se:| 486; 400 122. 166,.738.-| 3,194, 0) |ecse ease $1, 627. 62
oca
Commercial....... 16002) - f1005|- 4500500: |e ae 2. 40 De Del see oe 35
Isthmian Canal. ..)2.. 5... 32. SO00S See se O008 Reese: SOQ ieee 5. 00
Poth eas. ce aL 283, 688 (1,798, 831 |... BIS, 143 | 4, 527. 98 6, O74, A9e oa eee ae 1, 546. 51
BAGGAGE.
Weight. Earnings.
on In- |. De= De-
1906. 1905. erohne lorence: 1906. 1905. Increase. crease.
| Pounds.| Pounds.| Pounds | Pounds ‘ -
Mo News Vork 222.5 =. la 7,471 9, 657 Siar 2186 | $47.08"), $LIST 502-2 ee $40. 52
FROPRULO PO ss ce er es ets ah ee ee |e oan | ea ce reget
OCE eee ee a oe DP ABIES I IBL) BUH Me saganne 7,284 | 4,966.30 | 2,318.30 |$2, 678.00 |...:....
ROCA a ee sree 239, 584 | 249,054 |........ 9,470 | 5,148.33 | 2,505.85 | 2,637.48 |........



HL Doe. 415, 59-23





34 REPORT OF THE PANAMA RAILROAD COMPANY.

Statement of classified. railroad, earnings, tonnage,,and passengers, Panama to Colon, for
four months ending October 31, 1906 and 1905—Continued.





PASSENGERS.
Number. | = 2 Barnings.
il see ele ee De-
THUG) | 1905, | Sradae, | Gretise,| 10e | 100d... | Increase: | (nasce.
First: Ate Renee 196 Botater eh. s: 158 | ST, 31-00 192 061 95 1.6. €880. 35
Second-class . sree 268 OSSxle neti hs 90) Webs dee el 244 OA ee Se. 91.12
To Europe;... gate al | odes

First-class... Be et aes cis 261 79 182 |........}| 1,466.41 738. 02 PU2B oO steerer ccs
gepcond: Class oo 30 el Use ceee ccs ’ 130. 50 73.75 DOA Dl iaee ae

Loca
Minet- Class... 5... 41, 867 | 16,543 | 25,$24 |.:...... | 16; 761.871 8,447. ol | 8) 314.36 10. -5---<
- Second-class .......... | 67,298 | 44,889 | 22,404 |........| 18, 104. 01 | 12, 140. lh peo Oper ee
Mtal......22.......] 1007015 | 68470 | 47, 728 122 .| 88, 796, Si) De 705. a 4, 14,001.30 30 eS

Exursir T.— Statement of steamship statistics jor four months ending October 31, 1906
and 1905.

FREIGHT TONNAGE.



1906. [eee O008 LS Increase. —lhc= -Decreuse:
aye Tonnage NTs Tonnage! q.; Ponnage . Tonnage
Sees. carried. IDS, carried. See carried. | °D1PS. carried,
Panama Railroad ships: e es {cee
ee Ge 15 | 10,947 12} 12,846 BRO Cok e< c's. Sel ce es eek 1, 899
x GSailed= -2.8: Beet ee 15 23,068}. % 11 | 1351594). 4 4,894 )-..-. Deer ee
Chartered passenger ships: i ga AR eee | . ye OT eI Re
sATLVOC ee eee 10 8, 049, | ‘9 |} 11, 662.) Be ee hess ces: 3,613 -
oe eS: woeeeeese |, 10) 24008 | 10 20,010 | eee Pits Saeco |e edie
Tibi el 00 66 447 | 42 68 837 | ee | 1890
1906... - 1905. Increase. Decrease.
Total freight. earnings.. eChuis $293, 141, 57 $285, 342. 5. oS > $7, 799. OGe Seca eke eee ow.

Average rate per ton Sees ae 4,41 4.18 | : fe Diabet atk aes eit ence isiaie
‘PASSENGERS CARRIED.

eos. | 05. | Merease. | Decrease,
I oe ey -Passen- i Pagsen- | | Pas : Passen-
Ships. gers. Ships. : gers. - Ships. gers.

Panama Railroad ships:



Merived 2 15 itso 12 735 | eee 400. lee

Said es “IB Seo 903 | ae eee eee
Chartered passenger ships:

PPTAVEO est eee SO 885 9. STA eee eat VL Sa orale. cso oe

Sale esas ol 1; 986 LO! 22,084 |. cee (902 |---|. ee

Mol ee Leo Best]. 4a eee | ein

1906 1905 Decrease.
Total passenger earnings -.- $150, 414,83 |... gitvone.ag |. $88) 368.64 |.......[242...--..
Average rate per passenger -| 26.71 | 80, 99 |... ss. $28





— 60rn ae HOUSE OF REPRESENTATIVES Doota@
1st Session : | : No. 541 .




_ ANNUAL REPORT —
OF BOARD OF DIRECTORS OF

PANAMA RAILROAD
COMPANY

1907

January 20, 1908.— Referred to the
Committee on Interstate and; Foreign
Commerce and ordered to be {printed



WASHINGTON
GOVERNMENT PRINTING] OFFICE
1908

#4

LETTERS OF TRANSMITTAL

To the S enate and House of Representatives

I transmit herewith the fifty-eighth annual report of the board
of directors of the Panama Railroad Company for the fiscal year
ended June 30, 1907.

| THEODORE ROOSEVELT.
Tur WuITE House, January 20,1908.

ISTHMIAN CANAL ComMissron, 3
Washington, January 18, 1908.

Sir: I have the honor to inclose herewith, for transmission to
Congress, a copy of the fifty-eichth annual report of the board of
directors of the Panama Railroad Company for the fiscal year ended
dune 30, 1907.

Very respectiully,
Gro. W. GoETHALS, Chairman.
The SECRETARY OF War. : ,

-

War DEPARTMENT, = |
Washongton, January 18, 1908.
| My Dear Mr. PRESIDENT:

I beg to inclose herewith a communication from Col. George W.
Goethals, U.S. Army, transmitting the fifty-eighth annual report of
the board of directors of the Panama Railroad Company for the fiscal
year ended June 30, 1907, in order that you may transmit the same
to oe . |

ery respectfully yours,
= - Wn. H. Tart,
Secretary of War.
The PRESIDENT. a

3
PANAMA RAILROAD COMPANY.

BOARD OF DIRECTORS.

GEORGE W. GOETHALS, Morvecat T. ENpIcoTt, H. H. Rousszau,

J. C.S. BLhackBurn, D. DuB. GatLLaRD, RicHARD REID RoGeErRs,

E. A. DRAKE, ' W. C. GoRGAS, JACKSON SMITH,

CLARENCE R. Epwarps, PrtTerR C. HaAINs, W. L. SIBERT.

OswaLp EK. ERNST, : .

OFFICERS.

Grorcr We GORTHAUS, president, (262. oe ee Culebra.

EH. A. DRAKE, vice-president Serko es oe ee es eee eeL cs Ve eee New York.

W. G.-BIERD, assistant to president and general manager.......-...-------+- Colon.

SYLVESTER DEMING, ERCOSUNCR oes esos ee ee ee New York.

THe Rosssporrom, SOChCLOTY, | fone ee Oe ee i eee ee ee ee ee New York.

Bo, BENSON, general: QUGION 2252-2 = 3 ee Usere cesses New York.

JOHN: ADAMS: GUCILOT. = 4 <2 se a ee re ee New York.

Res. MARSHAL, local quauor-4.=...2. eee Colon:

D. W. Ross, general PUCHOSUNG OUUCC. eee ee New York.

ALFRED ANDERSON, assistant purchasing and shipping officer.........-... .--New York.

ROLAND ALLWORK, inspecting engineer..... te aes ee ee New York.
—b..G. BAKER, Waster mechawie. 6 Colon.
_R. Bupp, engineer of maintenance of way ...... eee oi, ese Ree ee Colon.
SL: BAWDEN, Lenmangs superiniendent 25) ose ee New York.

RicHarp Rep RoGErRs, general counsel ......--....-- RSet e New York.

General offices.—No. 24 State street, New York.
4.
ANNUAL REPORT OF BOARD OF DIRECTORS OF
PANAMA RAILROAD COMPANY, 1907.

PANAMA RAILROAD CoMPANY,
: New York, November 1, 1907.

To the stockholders of the Panama Railroad Companys .

I respectiully submit for your consideration a report of the com-
pany’s financial condition and operation for the twelve months from
July 1, 1906, to June 30, 1907.

I call attention to the accompanying exhibits, showing income and
profit and loss account, general balance sheet, and statistical tables
which will give you detailed information upon the financial aspects of
the company’s business.

Capital stock issue (unchaneéd) ©... 52..-.2..0.....0.2. 5.2. ene $7, 000, 000°
The outstanding bond issues June 30, 1907, were:

Sinking fund 6 per cent subsidy bonds:
Original issue of (for payment in advance of the annual subsidy of

220,000 to the Republic of Panama) 222.2. 20.2 os $3, 000, 000
Redeemed by annual sinking fund drawings........._.........-...- 2, 660, 000
Outstan dine: 2.552) 52 is ee ee 340, 000
Oi these outstanding, 69 were purchased out of earnings and are owned :
byethe Company. 2 ae ee ee 69, 000
Heoviie in the hands ofthe public 271, 000

Through thefoperation of the sinking fund {this indebtedness will be redeemed in
08. ,

First mortgage 44 per cent twenty-year gold bonds:

Mthonizedsissue Ol... a ee $4, 000, 000
meld by the public: 6.0 22 2, 148, 000

- Redeemed by annual sinking fund drawings................-...-.-- 1, 261, 000
ifeld imecomipamy S-Weasury 2 322.2 = etek ee 596, 000
4, 000, 000

Through the operation of the sinking fund, in due course, this indebtedness would
have been reduced by 1917, the due date of the mortgage, to $1,199,000; but by Con-
gressional enactment a sufficient amount was appropriated and has been advanced to
the company to liquidate and pay off the entire amount of outstanding bonds as of
date October 1, 1907. :

At the last session of Congress the sum of $2,298,367.50 was appro-
priated to enable the company to redeem, at 105 and accrued interest,
in accordance with the terms of the mortgage, all of its outstanding
first mortgage 44 per cent bonds, and due notice was accordingly
given that said bonds would be retired on October 1, 1907. The com-
pany having made the required annual payment of $150,000 to the
trustees on August 1, 1907, only $2,148,367.50 was needed from the
Government, for which amount a note to the order of the United
States, dated October 1, 1907, bearing interest at 24 per cent per
annum, payable semiannually, has been executed and delivered to the ©
Treasurer of the United States. The amount advanced or loaned to

5

&
o
- 6 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

the company is to be liquidated by the payment of $100,000 to the —
Government on the 1st of August in each year. To date 2,657 bonds
have been presented for payment. -

The result of the company’s operations for the period covered by
this report shows that after the payment of cost of operation and all
fixed charges there remained net earnings of $1,049,551.56, which have
been used for improvements and construction, the expenditures there-
for during this fiscal year, as shown by Exhibit I’, amounting to
-$2,011,186.75. . |

During the fiscal year there was borrowed from the United States
Government $1,197,892.77, all of which was expended, in addition to
_ the net earnings, for improvements and construction.

Gross revenue receipts, expenditures, and net earnings for twelve
months ending June 30, 1907, compare, as under, with those of the
twelve months ending June 30, 1906:



. Earnings
. Operating .
Harnings. Over operating
| CEDOBECE: expenses.
TOO (ise sas See tires peo eee Sees $5, 199, 810.69 | $3,610,874. 30 $1, 588, 936. 39
See LOOG ees s SS ee ee ee Ve | 8,917, 840. 28 3, 116, 059. 01 801, 781. 27
EN CLE ASEMELOO (Sse 8 oe ene ae ee ee 1, 281, 970. 41 494, 815. 29 787, 155. 12
HARNINGS.
RAILROAD, —

The total earnings of the railroad for the transportation of all kinds
of traffic show an increase of $1,068,072.18, or 41.55 per cent over
twelve months of previous year. Of this increase in revenue, $670,-
937.39 was derived from merchandise and coal freight, $461,464.15
being increase on westbound business and $209,473.24 increase on
eastbound business. Passenger earnings increased $126,429.37 and
mail earnings increased $13,010.22. :

Freight traffic from New York and New Orleans to South Pacific
ports increased 6,734 tons, to Panama 5,957 tons, and to Central
America and Mexico 5,170 tons. From Europe to Central America
and Mexico there was an increase of 3,262 tons and to south Pacific
ports an increase of 12,679 tons. | | :

Traffic from Central America and Mexico to Europe decreased 171
tons and from south Pacific ports to Kurope there was an increase of
11,050 tons. |

The following table shows the freight tonnage carried over the
railroad for twelve months ending June 30, 1907, including company
freight, as compared with the twelve months ending June 30, 1906:

[Ton of 2,000 pounds, or 40 cubic feet.]

Twelve months
ending June 30—







Increase.
1907. 1906.
: Tons. Tons. | Percent.
Carried westbound........ Sere cig overs Seren a eae a een ese 640,182 | 409, 890 56. 17
CanrcdcegstpOung< = ss Sa ee ee ee 296,214 | 255,821 15. 79

Total west and east bound......-..2--2--++--eeeceeeeeeee _...-:...| 936,346 | 665,711 | 40,65
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. i
The gross earnings per ton moved on the road compare as follows:

Twelve months

ding June 3
ee Increase.| Decrease. :

Westbound......... ee Se 2 90. Ti $3, 03, | ce
Wasthound ©. = ee 2. 58 D 80 Oi

Average west and east bound... .............--.----2:--- 2. 67 DEAGE ee eee 3. 26,

Exhibit L, accompanying this report, shows the origin and desti-
nation of the freight carried over the railroad. |
The total revenue freight traffic of the railroad during the twelve
months ending June 30, including both merchandise and coal, was
894,824 tons, an increase of 272,550 tons, or 43.80 per cent. The
total revenue derived from this traffic was_$2,389,327.07, an increase
of $670,937.39, or 39.04 per cent.
In addition to the above freight, 41,522 tons of company’s freight
and 1,832 tons of mails and excess baggage were hauled.

Of the total freight tonnage carried, 68.36 per cent was westbound
and 31.64 per cent eastbound. In 1906 the percentages were 61.57
per cent and 38.43 per cent, respectively. :

The through traffic was 40.66 per cent of the total tonnage handled,
as against 50.83 per cent for twelve months ending June 30, 1906. .

Coal Gncluding company’s) comprised_45.87 per cent of the local
traffic westbound. : |

The following statements show the number of passengers carried
and the passenger earnings: : , :

NUMBER OF PASSENGERS CARRIED.

Classification. 1907. 1906. _| Increase. |Decrease.

- ee
: ___ | Per cent. | Per cent.
First-class passengers....... eg eee en 325, 077 125, 780 158245 2S ees
SecOnd=ClasSS DASSODPORS= so... ce 557,200 | - 322,450 T2580 eo eres
PLOUG cece nee ee ee a ee 882, 277 448, 230 06:84 |2 ce ces

PASSENGER EARNINGS. - =



Mirst-class passengers. $165, 194. 52 | $93,974.51 | 75,79 |..-.------

Second=class: passeneers= 161, 381. 77 | 106,172. 41 B2e00E as se eeee
Ota Soe 326, 576. 29 | 200,146.92 | 63.17 |........-.



AVERAGE RECEIPT PER PASSENGER. |



First-class passengers:
&.

TOUGH ete ecto oe en ee $4, 13 BA OD east _ 6.06
SOC ee ae ee ee Be DOG | sate aere 25, 42
Second-class passengers:

PE DT OUP Nie ae oe eS ae 4, 24 AAR eee a be


8 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. |

The gross revenue from the transportation of passengers was
$326, 576.29, an increase of $126,429.37, or 63.17 per cent, while the
number of passengers carried show an increase of 434, 047, or 96. 8
per cent.

“The revenue received from through passengers increased $941. 80, |
or 3.10 per cent, and the number of passengers increased 602, or
8.69 per cent, as ‘compared with the twelve months ending June 30,
1906. 3

Local passengers show an increase of $125,486.57 in revenue, or
73.89 per cent, and 433,445 in number carried, or 98.22 per cent.

MISCELLANEOUS RAILROAD RECEIPTS.

The total receipts of the several accounts grouped together under
- this heading amounted to $754,090.20, an increase of $251,071.28,
or 49.91 per cent, over twelve months ‘ending June 30, 1906.

The receipts for wharfage at Panama and La Boca and lighterage
of cargo in Panama Ee which are included above show an increase
of $22,555.17.

STEAMSHIP LINE.

. The total earnings of the company’s steamship line were $1,560,-
910.48, an increase of $213,898.23, or 15.88 per cent, over the twelve
months ending June 30, 1906.

_ ‘Freight traffic increased 16 078 tons, or 8.36 per cent, and the
revenue therefrom increased $06, 608.40, or 11.38 per cent.

Passengers show an increase of 2 908 in number carried, or 25.85
per cent, and an increase in earnings of $78,130.16, or 24. 70 per cent. -

The increase in revenue from the transportation of mails was
$36,199.45, or 23.18 per cent.

Of the total tonnage transported, 108, 899 tons were carried by the
company s steamers and 105,971 tons by chartered steamers. In the
twelve months ending June 30, 1906, the former carried 97,472 tons
and the latter 100,820 tons.

EXPENDITURES.





_ ‘The aebeG expenses for the twelve months ending June 30,
1907 and 1906, compare as under.

1907. ~ 1906. Increase.
Raion Se $2, 208, 526.77 | $1,731,888.55| $476, 638, 22
Steamship Lines ye: soe ees ee ig 1, 402, 347. 53 i 384, 170. 46 ~ 18,177. 07

PL OWA eee cess ie ee es oe oe eee 3, 610, 874. 30 3, 116, 059. 01 494,815.29

' This table shows an increase of gi94, 815.29 in total operating
- expenses, while there was an increase in total earnings of $1,281,970.41
(see pages 21 and 22).

RAILROAD.

CONDUCTING TRANSPORTATION.

- The expenses of this department show an increase of $93,966.84, or
10.27 per cent, over the preceding fiscal year, while the tonnage
handled shows an increase of 270, 635 tons, or 40.65 per cent.
§

ae

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. o

The increase in cost of conducting transportation is due solely to
the increased tonnage handled during the fiscal year ending June 30,
1907, over that handled during the previous year to June 30, 1906.
The subjoined statement shows the number of trains handled during
the past year, to June 30, 1907, and also makes a comparison between.
the month of June, 1906 and 1907, showing the increase in the num-
ber of trains handled.















































° Isthmian Canal Com- -

Panama R. R. trains. reat OneT Pani. ae
Direction. Se Fagen ee tots

| Com- ie :

mercial. | Work. | Total. | Special. | Work. | Total.
INOnthbO Unda oa a ee 6, 538 881 | 7,419 103 | 14,171 | 14,274 | 21, 693
€2 DOUUDDOUNG NS ar ee 6, 540 871 | 7,411 104 | 14,248 | 14, 352 |.21, 768
Total, year ending June 30, 1907....; 13,078 | 1,752 | 14,830 207 | 28, 419 | 28,626 | 43, 456
Average number per. day <.< <2... 02. 36 5 Al 0. 6 17.4 78 119
JiR SL OO (hase Sa ee i 1,100 184 | 1,284 8 | 2,582 | 2,590 | 3,874
Sine; WONG SSS Se See ee anna ee 945 | 49 994 58 | 1,576 | 1,684} 2,628
IMCTEASe ab TAINS eos ene 155 135 290 a50} 1,006 956 | 1,246
IMCTCA SCs Sate Seco cee -POLCent-« 16 275 30 a 86 64 58 47

Average increase per day in June, 1907, 5s
over June, 1906, trains. :.--..-.-..5..-. 5 4h 94 ais 334 32 414



a Denotes decrease.

Norre.—The largest number of trains passed busiest point (las Cascadas) in one day, 196.

Total number train orders issued during year, 21,985, or 60 orders
per day, approximately, of which number the Isthmian Canal Com-
mission business is accountable for 40, or 67 per cent.

| MAINTENANCE OF EQUIPMENT.

The expenses of this department show an increase of $194,400.62,
or 140.30 per cent. This unusual result is accounted for by the fact
that a great many old cars have been destroyed during the year, and
their book value charged to operating expenses. The old and lighter
equipment can.not, without constant repairs, be used with the new
and heavier equipment, and when the condition of the old equipment
is such that repairs are not warranted the cars are destroyed.

The necessity for purchasing further equipment to take the place
of the old equipment being destroyed and to handle the constantly
increasing business is apparent. a

In addition to the recular maintenance of equipment work, includ-
ing extensive repairs to 18 Panama Railroad locomotives, the fol-
lowing new equipment has been received and erected complete and
placed in service:

Roger ballast cars, 80,000 pounds:capacity...... =... -... 7. (2... cee 100
Completing order of 500 new box cars: |

Box cars, 80,000 pounds-capacity...2....- 2... 2. ee 273

pcock cars, 80,000 pounds Capacitive... ee 10»
WaWOOSe: Cans. 12
mover ballast enter plows. sss eee 8 Pe 2
Birsteclass coaches, length, 68 tect:... 2:5. 6s 7
Becond=class coaches, lonoth, 68 feeu..=. 5. 42. 5 ee ie
Barcave and mail cars, length 68 feet... = 2 2

Two first-class and 8 second-class coaches and 2 baggage cars, on hand, being set up.
4

10 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. .

At the shops of the railroad company there have also been erected
for the Isthmian Canal Commission: :

oon, Cooke morul locomotives. =. =... 2. 2-32. =... ee Se 14
LOO-tone baldwin mogul locomotives <2. <8). 6-5 20
Lidgerwood flat cars, 80,000 pounds capacity, extension sides...........-.-...--- 700
Western dump cars, 80,000 pounds capacity (on order for 300).....-.---..------ 126

On November 15, 1906, the railroad company began using the
shops leased from thé Commission at Cristobal, since which time the
vacated shops at Colon have been used only for the erection of cars.

MAINTENANCE OF WAY AND- STRUCTURES.

The expenses of this department increased $96,855.92, or 28.15
per cent, principally on account of heavy tie and ballast renewals,
due to increased traffic. The maintenance during the next fiscal
year will show a very large increase, account of heavy expense
keeping up the new second main line, which is almost entirely laid
on embankment and will settle badly, also extensive rail renewals will

have to be made and two wharves extensively repaired. — |

Track department.

_ The building. of the new double track and rebuilding of the old
line has been practically completed. The statements below show
in detail the work which has been accomplished. All of the double
track is in use except 4 miles, from Gatun to Lion Hill, and this 90
per cent completed. : |

The following table shows the number of miles of new second
main line constructed:

Number of} Yards



: Laid and
: Laid and 70-pound :
Location. not bal- 3 ties (22- | gravel (15-
: ballasted. | “ja sted. tail. inch center).| inch raise).
| Miles Miles. Feet. —
Milepost 124 to milepost 2934 .............. flee Sas ae: 179. 520 43, 960 58, 780
Milepost 334 to milepost 364.........-.... DEES eee 29,040 | ~ ~—- 7, 920 8, 660
Milepost 454 to milepost 464 .............- lee ae eae ne 10, 560 2, 880 3,140
Sd DOCH Sa ee oe ee [el eee: Se 10, 560 2, 880 3, 140
Milepost: 7.vommilepoOst 124-2 22 ee ise 5¢ 56, 710 LDF ASOS oe oe Soa
CRO Gee a en ea lene es 213 53 286, 440 78, 120 | 68, 720

There remains but one-half mile of track to be laid from milepost _
63 to milepost 74, the grade for which is completed. oe
The old main line has been relaid as follows:

Kind of steel.



SMOG s Sener re se a Ballasted with—
Taken up. Put down.
From Colon to milepost 2..... 2 |=56-pound. ~.2=.2.- 7O-pOUNG 2-5-5: Rock and gravel.
OL milepost 334 to milepost 22\=70=DOUNG 2.5.22 le oes do: 2325 ...-| Gravel.
MO UG ecient ers 43



Twenty-seven miles have been reballasted with gravel and 60,000
cross-ties have been removed. 7
/

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 11

New side and-house tracks, all laid with 70-pound steel and bal-
lasted with gravel, except. at Corozal, where stone ballast was used,
have been constructed as follows: |







3 Storage. Passing. Siding. House. Spur. Total.
Location. ee a | Se ee |e ee
No.| Length. |No.| Length. |No.| Length. |No.| Length.|No.| Length. |No.| Length.

Feet Feet Feet. |. Feet Feet Feet
SOLO Se ceisee l r eee eee 3,410 | 1 BAODD slates tie ei 4,035
PES pS RN So ag a 1 WOOO S| eee = eee eee ee nee Rates 1 1,500
ROTTER ee eh So ne | ay Pe 2 3, 2 O25 glial: eee S 4,337
SIVAN Cb ere Sree eles er eae Seer 2 Os OL esl eee ey ale en eae cs 2 5, 618
Gore ona 5 sioen see 1 2,109 | 1 DB (eeu eee ee 1 OBO eles ee 3 4,926
WGA UEKO OU BOS seneeeiere ee glee lhc hee 2 S51 O0: series es Seas See 1 1620 alas see ose 3 5, 300
BassO bispoe ee see ee ee ee oe 155022 2 A20H eens. Ose es 3 3,970
Has CaSCAC Ass ia ae ei ees | ee eS 1 Lp SO0 cl eece eee Set lie ole ca eee 1 1, 300
1 Dpaay ORs eee ee en le de Se ee ee eee 3,000 | 1 290 elise as |e cee 3 4,290
@imlepra = oss ee: 1 1380 | 1 2,360 | 1 Li GAQ si. oe |e ae ee re 3 5, 385
POGTO= Mia uel se ee Ses | Soe es ee elke ae eg eee 1 S002 Bees |S es 1 900
Coro Zale eae eh ee eee 1 WLOes | aso eee cee 1 600 | 2 2, 367
ROtaless 2| .3,494| 4] 8,277] 13] 238,497 | 8 8,110 | 1 600 | 28 43,978

For the accommodation and in order to take care of additional
business yards have been constructed, with tracks aggregating 52,344
feet, as follows:

a



Track.
Location. Purpose. 70-pound | 56-pound Total. Remarks.
rail. rail.
Feet Feet. Feet.
Cristopal-ce- || Catshed . 2 S22 cee 5, 926 6, 988 12,914 | New shop.
iD Noyes reget Pain Shops 225s sees a 1,691 1,132 2,823 | Work track.
DOs Ses: DOCK IN 0.14 ie eee Op OD2 a eee ee 3, 522 | Storage.
DOs sas DOCK NOx. 12305) eee 11, 230 Do.
Colones ==: CoachsyatG ss acre se le 880 880 Do.
Colon yard..| Relay 56-pound with 70- 3 O00 2 sees ese 3,600 | To 13 feet centers.
pound steel. 5
Gatun... Storage yard account, Isth- 1, 500 3, 000 4,500 | For material and trains.
s mian Canal Commission. -
La Boca. .... ‘Rerminal:- Vande. eee: 3, 250 9, 625 12,875 | Train and storage.
Moth cS ee. Be ee ee ee 30, 719 21, 625 52, 344



Bridge and building department.

' Ninety-four bridges and culverts have been extended for the
second main line to a total of 3,500 feet, at an average cost per struc-
ture of $428.92. ,

Hight new passenger and freight depots have .been constructed at
Pedro Miguel, Bas Obispo, Matachin, Gorgona, Tabernilla, Lion
Hill, Gatun, and Cristobal, and the old depots at Bohio and Colon
have been remodeled and enlarged so as to accommodate the
Increased business. These, with the depots which were rebuilt and
enlarged during the years 1905 and 1906, make an entirely new or
enlarged list of passenger and freight stations from Colon to Panama.

At Pedro Miguel and at Matachin new 50,000-gallon water tanks
and standard water columns have been installed.

Section houses for quartering foremen and laborers have been
built at Panama, Corozal, Culebra, Empire, Gorgona, and Gatun.
In addition to these, others are to be built at Pedro Miguel, Bas
Obispo, Tabernilla, and Lion Hill. These provide quarters for
12 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

12 to 14 laborers in the second story, and have 3 rooms for the sec-
tion foremen in the first story. °

At Cristobal 3 new 2-story compartment buildings have been
erected for married employees, providing for a total of 12 families. —
Other ‘‘bachelor”’ quarters have been built to accommodate 40 shop
employees. At Colon 2 cottages have been built for 1 and 2 families,
respectively, and a general office building 112 feet square has also
been constructed near wharf No. 1, in what is locally known as
“Shaler Park.”’ :

A concrete steel oil house 30 by 40 feet, a concrete steel coal-stor-
age and ice plant 110 by 200 feet (having a capacity of 50 tons of ice
per day and 90,000 cubic feet of refrigeration space), new steel build-
ings for laundry, bakery, a frame dry kiln 30 by 60 and a new store-
house 35 by 125, and an additional commissary storehouse, 70 by
120, have also been completed. |

The new fast coal-handling plant at wharf No. 14 has been com-

pleted and is in use. The coal chute, roundhouse, and cinder pit
at the Cristobal terminal have been completed, and a new boiler
shop is planned and will be erected during 1907. These, with the.
machine shops and the accompanying storage and car yards, make
the Cristobal railroad terminal complete in every respect.
Wharf No. 11, at Cristobal, has been completed and 9,350 addi-
_ tional square feet of roof has been added. A foreman’s office, ticket
office, tool room, waiting and baggage rooms have been constructed
on the wharf. | )

Extensive repairs are under way on wharf No. 4, and an addition
of 12 feet on the north side isto be made to facilitate the handling
of freight. © : |

Wharves Nos. 1 and 2 are being strengthened, repaired, and painted,
at a total cost of $75,000.

Twenty-seven thousand square feet of corrugated iron roofing have
been put on the triangular wharf at La Boca, and 54,000 square feet
- on the new lumber wharf. The capacity of the steel pier at La Boca
has been more than doubled by lowering the narrow freight handling
platform to a level with the original tracks and by building an adjoin-
ng oe at a lower level for the handling of cars to and from the

ock. |
Hight new electric cranes of 4 tons capacity each being installed on
the La Boca wharf are 50 per cent completed. |

STEAMSHIP. LINE.

Warnings of the company’s steamship line were $1,560,910.48, or an
increase of 15.88 per cent, while operating expenses were $1,402 347.53,
an increase of but $18,177.01, or 1.31 per cent. This very encourag-
ing outcome was accomplished despite the fact that there were 74
round trips made this year as against 65 last year, an increase of
13.85 per cent in the efficiency of the line, and considering the almost
horizontal advances made in wages and the greater cost of nearly
| every inne used in transportation, must be regarded as a satisfactory
result. | : | |

The total cargo of all classes carried between New York and Colon
by our line was 214,870 tons, as against 198,292 tons last year, or an
merease of 8.45 per cent. | =

—
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. Le

The active competition of two important foreign lines for traffic
heretofore handled solely by this company’s line has been followed
by the outcome which generally results frem an increase in facilities,
viz, a material increase in the aggregate of tonnage to be transported.

The number of passengers carried both ways by our vessels, mostly
employees of the Canal Commission and their families, has taxed their
capacity, which has been enlarged from time to time as possible.

Competing lines have afforded little, if any, relief in this traffic, as
the company’s vacation rates to its own employees and those of the
Canal Commission do not apply by those lines.

Operating expenses have been seriously affected by cost of impor-
tant repairs of wear and tear to our ships, due to the necessity to turn
them round rapidly in port, in order to accomplish the increase in
their total voyages, so much_so that a reduction in round voyages
for next year has been determined upon.

The company’s dock facilities in New York Harbor have not yet
been enlarged, because no others are obtainable except by unwar-
ranted outlays. However, arrangements are under way to lengthen
the company’s pier about 100 feet, to the new pierhead line, and the
advisability of securing an unloading berth on the Hoboken side of
the Hudson River is being considered.

At the Isthmus the company’s vessels are now berthed and rapidly
handled at our Cristobal docks in the mouth of the canal; additional
berths in Colon Harbor are thus provided for the vessels of our co-
carriers.

During the year our S. S. Advance and Finance were equipped
with large cold-storage space, and Allsanca now under reconstruction
will be similarly fitted. The refrigerating plants installed on S. S.
Colon and Panama (under charter from the Canal Commission) may
be enlarged. |

Allianca, already withdrawn from service for the purpose, is to
be practically rebuilt at a contract cost of $340,000, with an increase
in her capacity of 900 tons, and completed early in 1908. To re-
place Allianca while out of service (because a suitable one of Ameri-
can registry was unobtainable) a British vessel of large capacity has
been chartered. |
| | COMMISSARY DEPARTMENT.

The commissary department has developed into a well-organized
and well-stocked modern department store comprising, besides the
main store and the industrial and production plants at Cristobal,
seven branch stores located at Gatun, Gorgona, Empire, Culebra, Rio
Grande, Paraiso, and Pedro Miguel. Four additional stores are being
opened at Bas Obispo, Tabernilla, Las Cascadas, and La Boca.

With the completion in July of the new cold storage and ice plants
at Cristobal excellent cold storage facilities will be provided, and b
the closing down of the temporary cold storage plant at Colon all
cold storage articles and ice will be handled from one plant, with in-
creased efficiency and less cost. : | |

The opening of the new bakery and laundry plants in January and
April respectively added to the commissary department two very
important features. 7
14 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Operations for the coal year are shown below:

Stock on hand June 3051906) 2 2. See $168, 155. 15 Eas |
ROtaslockrecely ed... ee 1, 887, 476. 86
a 7 —_____—_— $2, 005, 632.01
Total sales, disposed of as follows: : :
Isthmian Canal Commission hotels and messes.....-.- (13s 203. 15
Various departments Panama R. R. Co....-..---.--- 62, 742. 48
Panama BR; bv. Steamship line. - 2.2.3. 2.. 2-2. 225. 1, 714.75
Isthmian Canal Commission hospitals and sanitary
department (charged direct): -:..-.... 22-2... .s.:- 147, 958. 02
Various Isthmian Canal Commission departments on
awards from material and supplies.............--- 84, 488. 96
Cash sales (principally to United States ships)......-- 4,135. 75.
Personal accounts: a ee eee 38, 926. 83
Coupon-sales:. 25.22 2 2 ee 800, 682. 02
Supplies used from stock account ‘‘expense accounts’? 32, 260.72
————— 1, 946,112.63
Asverage permonth: 22. eee ee is 162, 176. 05

The amount of stock on hand June 30, at retail value............- 547, 447. 55
MATERIAL STORES DEPARTMENT.

During the fiscal year the store department handled material as
follows:

| DEBITS. |
Material on hand June 30, L906 Ss = $222, 676. 04
Material received by New York invoices.............-- 1, 756, 781. 14
Material received by purchase from Isthmian Canal :
Commission. 2 SS se ieee Se 445, 785. 78
Material received by shop work-........-..-.:--.----- 83, 406. 80
Material received by other purchases..-.......-.....- 86, 238. 59
= Lott as ee So $2, 594, 888. 32
| CREDITS. :
Material disbursed to various departments. .... Se 2, 193, 130. 07
Material disbursed to New York credit invoice........ DAO Nei.
Material disbursed to Isthmian Canal Commission and
BUMCryPCESONS y=. 5). 22-5 ss es Se 152, 604. 58
Material on hand June 30, 1907.........-... ee es 227, 374. 50
; ——_—___——— 2,594, 888. 32
The cost of handling this material has been:
Peay Olle 2 ee eee Coe ee ee 52, 527. 49
Other expenses...........- Se Se 26, 993. 51
Motil - . ee 79, 520. 99

Per cent store expense to total business, 3.4.
LAND DEPARTMENT.

. There has been considerable increase in.revenue from land rents
since January 1, 1907, owing to the new rates of rental adopted for
Colon lots, which now average 6% cents per square foot, or $260 per
lot (80 by 130), annually, against 24 cents per square foot, or $110
per lot prior to January 1. :

All lots requiring new leases were advertised for public bids, and
following the policy of giving preference to those who previously held
leases all such persons have secured new leases to cover the lots they

had. 7
—

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 15

Practically all of the Colon building lots have been filled to a level
of 4 feet above sea level, in accordance with sanitary requirements,
and another row of blocks between D and E streets is being filled by
hauling dirt from Gatun. g |

The title to a large tract of land near Empire which has long been
disputed by Senor Santiago Saundio was decided by the Canal Zone
circuit court in favor of the Panama Railroad, and a new town site
has been platted and lots leased, which will yield material revenue
from rentals. 3 |

TELEGRAPH AND TELEPHONE DEPARTMENT.

The telegraph and telephone line across the Isthmus was prac-
tically completed June 30, 1906, and the work in this department
during the past year has been principally that of connecting up new
telegraph and telephone stations and establishing new telephone
centrals. a

Thirty-seven thousand nine hundred feet of 10 and 20 pair cables,
400 miles of galvanized wire, 60 miles of copper wire, and 10 miles
twisted pair wire have been strung. :

Nine telephone switchboards have been installed at Gorgona,
Tivol Hotel, Culebra, Colon, Ancon. Hospital, Empire, Gatun,
Paraiso, and Mount Hope. A total of 310 telephones have been
installed.

Fourteen 4-blade semaphore signals and 4 Hall automatic electric
signals have been put into use for the operation of trains by block
system. |
_ The construction of additional sidings and yards and the develop-
ment of dump grounds of the Isthmian Canal Commission have
necessitated the moving of 447 telegraph poles, or a total of 11.2
miles of the line. |

The increasing demand for telephone service indicates that dur-
ing the coming year one additional cross arm carrying 6 copper
wires will have to be added to the present line across the Isthmus. .

CONSTRUCTION OF RELOCATED LINE OF ROAD.

About the middle of May the work of relocating the line of the
Panama Railroad necessitated by canal construction plans was be-
gun, and since that time 10 connection tracks have been started,
to extend from the now operated line over to the relocated line at
various places. The work of building these interchange tracks for
the purpose of handling machinery, men, and supplies for doing the
necessary grading has been 75 per cent completed, and a force of .
1,000 men, 4 steam shovels, and 1 pile driver is at work on the actual
construction of the new line. ; =e
Inasmuch as this work is made necessary by the building of the
Panama Canal the Canal Commission is to reimburse the railroad
company for all expenses in connection with the work and furnish
all of the construction material which is to be used. This line, when
finished, will leave the present line at Mindi and will be located at a
distance of from one-half to 14 miles east of the existing line from
Mindi to a point about 1’ mile north of Panama.
There are practically no grades on the new line except from Mindi
to Gatun, where the rise will be at a rate of 52 feet per mile, and from
Pedro Miguel to Panama, where the downward grade will be slightly
/

16 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

less. Curvature on the new line is on the whole less objectionable
than the existing line, but there will be some sharp curves on account
of line being of necessity located among the hills in order to maintain
a high elevation necessary to keep above the level of the Gatun

ake. |

The high elevation maintained necessitates a very large percentage
of the road being built on embankment, to a total amount approxi-
mating 12,000,000 cubic yards, while the excavation is about 3,000,000
cubic yards. The greater portion of the grading of the new road
being embankment it will be made from material excavated and
hauled from the Culebra Cut and dumped from trestles which will
be driven on the location of the relocated railroad.

Port BUSINESS.

Number of vessels and their aggregate cargoes handled through our ports during fiscal year
ending June 30, 1907.



















Vessels. Tonnage.
Increase. Received.
Port and kind of freight. ‘This Teast ee
year. year. NG Per This Last p
: cent. | year. year. er
Tons cent.
Colon and Cristobal: =
Rho COM Sa see SoS tes 44 23 21 91 | 203,451 99,4388 | 104,013 105
Other freight .-. 22222222. 836 716 120 | 17 | 364,748 | 258,136 | 106,612 4)
Potales ees Ses 880 739 141 19 | 568,199 | 357,574 | 210,625 59
Panama and La Boca.....-- 160 146 14) 10; 126,083 | 144,689 | @18, 656 a13
Tonnage.
Dispatched. ° Total tons. =
Port and kind of freight. SnGren ee: THovaake:
- This Last Pe This Last
year. year. er year. year. Per
Tons. Cents |= Tons. cent.
Colon and Cristobal:
Conte secre see 0 Of Rese See eto 203, 451 99, 488 | 104,013 105
- Other ireight...--.2 ks. 132,424 | 131,742 682 3} 497, 172 | 389,878 | 107,294 28
TOCA oes See ee 132,424 | 131,742 — 682 4| 700,623 | 489,316 | 211,307 43
Panama and La Boca.......| 193,344 | 165,711 27, 633 17 | 319,377 | 310,400 8.977 | <8

_ @ Decrease due to the large amount of Isthmian Canal Commission lumber discharged at this port
during the year ending June 30, 1906.

COAL AT ISTHMUS.

Coal received at Colon was distributed or issued as follows:

Quantity.) Per cent.

To Panama Railroad— | ' Tons. .
MOL TOAGON INOS oot asst eo cern ee ene ee ee en Rete oe ae Nowe ome 17, 297 84
HOD SWitCh CNSINCS. cane. he ee eee eee wt ee eee ee Berea are ce ere eens 6, 645 3
‘For other purpores TEINS Cis ete SS eR cas areata Pee eR ee eS Tee 14,244 | ii
For Panama Railroad Steamship Line.............. SEE eS ote e cece ses coe SOOM cess,

To other steamship lines .............- Bee es ee eee. Saas oss See e es 37, 887 |. 19

To Isthmian Canal Commission (all departments) ..........-2..- 222-222 e eee eee eee - 116, 586 57

WO mMBIscellanCOUS 2-2 sc acsce ee car aee oe ewe Rose eae oe Son eae Sap eee euseees _ 7,095 34
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 17

ELECTRICAL DEPARTMENT.

The electrical department has installed during the past year 3,003
incandescent lights and 78 arc lamps. The plant at Colon has so
far been able to meet all demands made upon it, but at present is
carrying an overload of 15 per cent.’ Plans are now being prepared
for the erection of a new plant at Cristobal with sufficient capacity

to supply current for not only Colon and Cristobal, but also for Gatun.
~The new La Boca electric light plant is 60 per cent completed, and
with the completion of this plant there will be considerable surplus
power.
GENERAL REMARKS.

During the period from January 1, 1894, to June 30, 1907, inclusive,
the percentage of total expenses to gross earnings was as follows:

Per cent.
NS OAs ee A es ea es er 69. 93
DOO ee 61. 63
S905 ee ee AS bese ei ete Base ee 03. 94
ee taxes and appropriations for depreciation, etc.:

SOLS ee ee ee ae he ie ee 6112
SOS a ee ee ee 64. 91
18995 ee 64. 66
QO 5 ee 65. 25
QOD oe ee a ee ee ee eee 64. 72
Or including Pacific Line not operated in 1900... 2 76. 34
Including taxes and appropriations for depreciation, etc..-...-...... 65. 87
Or including Pacific Line operated for six months.........-...--..-- 71.02

_ Including appropriations for depreciation and special repairs:

OOS ee ee ee Ne Soca gee e2-- 00-01
Ae a a ee 63. 69
OO oe 77.49
1906, June 30 (12 Salis) SRT ee ie 79. 54
1907, dune 302 Cl 2emomths)\ie e252 ee es ee 69. 44

During the year all of the necessary additional passing sidings and
storage tracks made necessary by the enormously increased business
due to Isthmian Canal Commission dirt trains have been completed.
The new second track is in use except for a short distance and the old
track is entirely rebuilt, so that at the end of the year the congestion,
which had become serious, has been almost entirely eliminated.

With the completion of repairs at wharves Nos. | and 2, all of the
company’s wharves will be in good condition and the entire line,
including terminals, will be in shape to care for a very great tonnage
without delay, extra expense, or congestion.

The block system of dispatching trains has been put into use on all
double track, affording the freest possible movement of trains con-
sistent with safety. All freight trains except one local in each direc-
tion are run at night. The extra expense of handling these trains at
night, as well as the additional expense account of operators to handle
the block signal station, is incurred in order to handle Isthmian Canal
Commission trains with the least possible delay during working hours.

During December, 1906, a historical flood occurred, due to a rise of
the Chagres River, which at Matachin reached an elevation of 78 feet,

or 33 feet above ow water. Fifteen miles of the track between

Mindi and Bas Obispo were under from \ to 8 feet of water, but aside
H. Doc, 541, 60-1——2
g& REPORT BOARD DIRECTORS PANAMA RATLROAD COMPANY.

Trom softening the new double track embankment and washing away
about 200 cross-ties, no serious damage was done. ‘Traffic was inter-
aupted from 10 a. m. December 3 until 6 a.m. December 6.

The density of traffic has been so great that a 70-pound rail has
_ proved entirely too light; it became necessary to change out the rail
«on several sharp curves before it had been in actual use more than fif-
‘teen months. An order has been placed for 3,000 tons of 90-pound
‘wail to replace the 70-pound on all curves between Tabernilla and Las
Cascadas, where there is the heaviest movement of dirt trains.

Operation of new coal-handling plant at wharf No. 14 has so far
‘facilitated the unloading of colliers, by increasing the rate of dis-
eharge to 700 tons daily at a rate of only 20 cents per ton, that the
eompany was able to secure a freight rate Norfolk, etc., to Colon,
of $1.52 per ton, as against $1.65 per ton formerly.

Between June 30, 1906, and February 22, 1907, 2,023 tons of ice
were manufactured by the Colon ice plant, a quantity that was in-
sufficient to meet the demand; the Colon plant was partly closed
down, and since February 22 the-new plant at Cristobal has produced
3,292 tons and has capacity to more than meet present requirements.

At the annual election held in April, 1907, Directors T. P. Shonts,
John I. Stevens, Charles E. Magoon, B..M. Harrod, William Nelson
Cromwell, J. D. de Obaldia, Roger L. Farnham, and W. Leon Pepper-.
~ aman retired, and were replaced by George W. Goethals, J. C. S. \
Blackburn, D. DuB. Gaillard, W. C. Gorgas, H. H. Rousseau, Rich-
ard Reid Rogers, Jackson Smith, and W. L. Sibert, the newly ap-
‘wointed members of the Isthmian Canal Commission, and the chair-
man of the Commission was elected president of the railroad.

Mr. Drake was elected vice-president and Mr. Richard Reid Rogers,
“zeneral counsel, and Mr. W. G. Bierd, general manager on the Isth-
aus, was also appointed assistant to the president.

Respectfully submitted. |

GrorGE W. GorTHALs, President.

EXHIBITS.

PANAMA RAILROAD COMPANY,
ACCOUNTING DEPARTMENT, .
New York, N. Y., October 17, 1907.

Dear Sir: I herewith submit statements of income account, general balance
sheet, and tables showing results of operations for the fiscal year ending June 30, 1907, .
-as follows:

Exhibit A. Income account and profit and loss.account.

Hxhibit B. General balance sheet.

Exhibit C. Earnings and expenses.

Exhibit D. Operating expenses of railroad.

ixhibit E. Operating expenses of steamship line.

Exhibit F. Expenditures for improvements and construction.

Exhibit G. Equipment and plant replacement accounts. '

“xhibit H. Classified railroad earnings, tonnage and passengers, Colon to Panama,

and Panama to Colon. | : |

‘Exhibit I. Railroad freight statistics.

dixhibit J. Railroad passenger statistics.

Exhibit K. Railroad general statistics.

‘Exhibit L. Railroad freight tonnage handled.

‘Exhibit M. Steamship line statistics.

“xhibit N. Locomotive and car equipment.

#xhibit O. Floating equipment.
REPORT BOARD ee PANAMA RAILROAD COMPANY. 19

In December next the following tables, on the results of eporOne for the
four months ending October 31, 1907, will be prepared and published as a suip enue
to this annual report, viz:

Exhibit P. Income account and profit and loss account.

Exhibit Q. General balance sheet.

Exhibit R. Summary of earnings and expenses.

Exhibit S. Classified railroad earnings, tonnage and passengers, Colon to Panama,

and Panama to Colon.

Exhibit T. Steamship line statistics. 2

Yours, very truly, | ‘
JoHN ApAms, Audttor.
Mr. G. W. GOETHALS, :
President Panama Railroad Co., Culebra, Canal Zone.

Exuipir A.—IJncome account and profit and loss account for the year ending June 80,
907.

INCOME ACCOUNT.



Railroad:
Gross earnings PVOMI OPCTALIONS <7 aan coos Pessapht Mine aero asas Rane $3, 638, 900. 21
OPPLratin S:expPCH Sess. se ee ee ee ie Se ee Rae eee ee 2, 208, 526. 77
INGt Carnin es irOmvOperatiON cs sc2.s- ce eee eee Caren eae SS eme ome $1, 430, 373. 44
Steamship line—
GLOSSeCaEMIN GS ATOM“ OPCLallOMe sean eee oe ee es ee 1, 560, 910. 48
Operdbileexpensess 25 ae oy a eee reer ee ren te eee. See ee 1, 402, 347. 53
Net earnings from. QPCR GL OTN Se eee eee ee SUS ee tas RE een 158, 562. 95
Add income from: gts
TMECKLEST ONESCCUTIGICS:O WINCG se oe ys eee en en eee 65136, 25%
Premium and interest on treasury bonds drawn for TEGEMPLLONe. = oes 2, 281. 25
Imbercst: and:exehanee ss. see sae Se ne Se ce oe ia we eee 9,131. 42
: SS anne 17, 548. 92
1, 606, 485. 31
Less

Interest on funded debt—
First mortgage 44 per cent bonds—
Interest on $2,163,000, July I, 1906, to June 30, 1907...........--. 97, 335. 00
Less—
Interest April 1, 1906, to June 30, 1906, on 109 bonds
drawn for redemption and paid by trustees in Octo-

TTL NG ae ieee ee er eae 1226225

96, 108. 75

inst morte e- simkimo. Tunes. ey. as ee oe es ee 150, 000. 00
Concessionary subsidy to United States Government inieter treaty -
Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds—

533 bonds; July 1 to October 31, 1906... 52.22.22... $10, 660. 00
340 bonds, November 1, 1906, to June 30, 1907------.-- 13, 600. 00
24, 260. 00 — ne
Redemption Of Subsidy DONdS= 4622 eae eee 200, 740. 00
———— 225, 000. 00
INGETES (ONE OANSe oe ee a ee Ss Eee ere 38, ROL QOS
entalordocks and=machine SHOPS: 2 sees... = 6c ce oe eee 22, 073. 10
: : ——— 556, 933. 75
Net income for twelve months....-..-.-.....-- SES OSS a Eee sera aaah aoe crea a 1, 049, 551. 56
PROFIT AND LOSS ACCOUNT.

‘By; Dalance-1O:credit Of promt and 1OSss;-s une 30; 190G2- 2S: acca ene ee eee a 088, 589. 81
Surplus from income account for twelve months ending June 30, 1907 ee ae 1,049, 551. 56°
Hirst mortgage 44 per cent twenty-year sinking fund gold ponds, Tedeemed ssc. 140, 000. 00
Adjustment of accounts OL PLOVIOUS:V CA te wesc Ne Le ee eee en ee 3, 082. 92
‘Value of material recovered from dismantled lighters......-.......-.-.-------------- 100. 00

= 6, 281, 574. 29

Less: :

To sundry uncollectible accounts written off.........--..-.-- Oe ee 243. 53

By balance torcredit-ol-proticand loss, June S090 La etc ee sete eee seus. , 6, 281, 330. 76

2
Exuipit B.—Balance sheet June 30, 1907.

‘

Sc E00 00 2 a rc fee ee enna ee ee eee

Cost of road, real estate and equipment
Improvement and construction accounts........-.-------------------
Floating equipment:
Steamers Allianca, Finance and Advance. $596, 749. 66
Add cost of installing refrigerating plants
on steamers Finance and Advance....... 34, 315. 07
$631, 064. 73

Tugs and lighters.........--- Rates neo eve tGe Mn Ie 290, 943. 80

wwe eww meee eee ewe ee ewe eww

MotaliGost, OL PRODGMLYEE wae ach oes onic ne ec atome ve Meter ie ciara
Bonds in treasury: ;
_ Sixty-nine 6 per cent Panama Railroad Company

sinking fund) subsidy DONGSiuiah ito alae ee 69, 000. 00

Five hundred and ninety-six 44 per cent twenty-year

SOL Simian TUNCHHONd See ee ce Nae een 596, 948. 75
On deposit with financial agents for redemption of bonds:

44 per cent twenty-year gold bonds.-.......-.......-.-------------
Advance of subsidy to Republic of Colombia. ..................-.-----
Current assets:

Cashvmibanks amd withvagsenusinmen ue se nr ee 491, 833. 04

Coaltandisuppliesonmhand see hes ese Anos Sc: 758, 559. 47

Due from connecting companies ..----.-.------ eS 208, 571. 55

Due from United States Government—

Isthmian Canal Commission........-.-- 660, 784. 81
Post-Office Department ..........----- 61, 128. 50
Navy) Gp amoment 40. ei nei eer: - 2, 580. 00

724, 493. 31

Due from companies and individuals ........-......--- 71, 252. 66

Miscellaneous) ACCOUMUS iE: Mes yore es cee cee ads es 495, 795. 24

Unearned insurance and charter of steamers .......-.-- 60, 038. 23

General average disbursements....................---- 1,914.15

$13, 721, 107. 87

1, 162, 085. 20

922, 008. 53

15, 805, 201. 60

665, 948. 75

1,705. 00
340, 000. 00

|



2, 812, 457. 65

|
|
19, 625, 313, 00

CaplivalestoGk gence Ma ie ee ee ie Pa ST Re ee ara eae ear aat Ae
43 per cent twenty-year sinking fund gold bonds (author-

ized issue, $4,000,000): Issued to date (4,000 bonds, less

1,121 bonds previously redeemed)’. .:.--.---..---- Pee $2, 879, 000. 00

Mess'drawiitor redemption tm lQ0G2. 2h. Se te 140, 000. 00

Total capital stock and mortgage liabilities ......-.....-...-......

6 per cent\gold sinking fund subsidy bonds¢......-...-.-.........-.---.-
Bonds drawn for redemption not presented for payment:

44 per cent twenty-year gold bonds.....-.-...-.-......- 1, 072. 50

GAeH COMUSUDSIGY ONGSs 22s o5 os Tae ee eo a 1, 000. 00

Funds for redemption of bonds—
44 per cent twenty-year gold bonds.......-...-.....-.-

138, 132. 50
6G percent Subsidy DOmndstesh si 26h. ae ae ce

183, 675. 00

Equipment and planb Treplacemeniy LUNGS ioe te ee ate ee
Current liabilities:
Due to United States Government—

Concessionary subsidy accrued .......- $9, 375. 00
Bills payable—for cash appropriated

through Isthmian Canal Commission

for new equipment and improve-

TMOTNUSR ia eee en Ns RS eae TL ate 1, 647, 892. 77

1, 657, 267.77
39, 086. 96
5, 782. 50

Isthmus drafts not presented
Coupons NOt Presenued ees oes ee eee a
Accrued interest on bonds: ;

4 per cent twenty-year gold bonds

(QUIGBIDONGS) pee ee seat ee oo 24, 333.75

6 per cent subsidy bonds........-.-.... _ 3, 400. 00
ie ae 27, 733. 75
Audited: vouchers and pay Tollse 2. 2225. ). 2 sles e 889, 079. 85
Duetoeonnectinglines: ilies ee ee ye 39, 191. 93
IMiscellaneOusACCOUMUS. caso cece ELS ose ce: 93, 873. 84
WWnmaldyWakesesne eee os Fae ha cet ek es ees en as - 6, 289. 16

Balance tocredit.on prot ang loss. ik. 5 ew el A ei ee

$7, 000, 000. 00

2,739, 000. 00

9,739, 000. 00

340, 000. 00

2, 072. 50

321, 807. 50
182, 796. 48

2,758, 305. 76
6, 281, 330. 76

19, 625, 313. 00



a Three hundred and forty 6 per cent gold sinking fund subsidy bonds of $1,000 each, amounting to $340,000, issued November 1, 1880, fall due November 1, 1910.

To meet this bonded indebtedness of $225,000 annually of the Colombian Government subsidy was pledged till March 27, 1908, the same to be applied by the company, first

to the payment of the interest, and second. as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an amount equal

to the then surplus of the subsidy sinking fund, the drawn bonds to be paid on November 1 after each drawing, and thereby redeeming the whole issue in 1908.

“ANVdIOO GVOUTIVE VNVNVd SHYOLOSUIG GYVOd LYOdau

OG
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 21

Exurpit C.—Statement of earnings and expenses for the years ending June 30, 1907



and 1906.
Earnings. 1907. 1906. Increase. Deerease.
Colon to Panama:
Rreighit Secession ee ie eo eee $1, 633,374.54 | $1,171, 910.39 $461; 464015: 5 ore
IRAISSCH POLS Sioa ea eee re ee 170, 271.26 107, 247.66 63,028.60 32222
Mail Ss See are niente a fame eer 98, 883.65 86,775.02 1210868: eee etic:
SWXUrE DAPSALG eo: ates teee eee 20, 331.63 Ue 795.64 Ds OBO~ OO: \sios Beene
RT CASUIO Oe sea eee oc iw aaa ciee seen il, 209.74 12 090209) esos ess ase $880.35
IBEX ROSS oo ety et ee ee SSN RGr SOMO! Sires eee
ROCA sk eee eee ee - 1,934, 438.38 1,395, 818.80 039; 019 208 s| Soe
Panama to Colon: :
BTOISnG 2 sae ae ee ee 755, 952.53 546, 479.29 209, 473.24 |...-..2....-
RASSCNL CNS Sores ee eee ne ee 156, 305.03 92, 899.26 |: O35 400 CTIe | a= aee
Magn So sees ee ete oe ee 7,379.20 6, 477.61 GOL S90 See ees
Extra, bageeee.. 2 co ee ee 17, 077. 50 12, 333.75 A (Boel Onl se cee
RT CASUTO is Se ae eri aeee eee ie 13, 068.75 TS; SUQS40) cee ee oe ee 731.65
EE DNCSSi eo scrk iat enc ee ee es DSS nODe | eeceres se ee 88850222 eee
Dota > ee ee 950, 371.63 671, 990.31 BIS cool Ode aa sean ere
Miscellaneous:
WIShera ge eee cee ae eee cae 27, 856. 65 66; 8525025). soe eee 38, 995. 67
Water supplied shipping...........--- 25, 605. 38 DOS AOOS ae ee 382. O1
Rental of-property 2-2. ee os See 54, 656. 45 23, 082. 48 SLOSS OM leo see ee
Wharfage and light dues, Colon.....-- 89, 373. 09 78, 1538. 00 Pel 2202092 ere eee
Wharfage, Panama and La Boca .-..- 230, 883. 54 169, 332. 70 Gl 5502845 eee
Cranage earnings, La Boca.........--- 57, 106. 72 19, 249. 09 SOO bs OF eck ae ees
Storage and freight handling. Beenie 50, 630. 42 13,823. 15 30; SOUS 2 (lee eee
MOL OTA Ns ane eee ore see oe Ses 3, 541. 44 2, 0438. 94 1, 497.50 |... 2. (ee
SWlChiO SS 8 ack as ee eee eee LOES20 50s ooo ee 1Q A 2700s Ae oe
Miscellaneous earnings, other sources . 194, 616. 01 104, 544. 85 99 1046602 \2 Sees ose
Dotaliee secession eee 754, 090. 20: 503, 018. 92 Aol OVVE28 22 yee
Total railroad earnings......-.-...- 3, 638, 900. 21 2,570, 828. 03 106807218. (one ee
Steamship line:
UPC STG a ee eee 945, 172. 69 848, 564. 29 96; 6082405 |= See
PASSCN PIS iio eee 394, 388. 26 316, 258. 10 13, FOOT Ge lee i
Mou Si eee en ee i eee 192, 334. 21 156, 134. 76 30-1997 4bs| es eee
IRERCT AED ASL AGO se oe een ee 2, 247. 15 2, 700002) ee eee 509. 37
PULCUSUTOR he ate Souls tee oe ee ae 13, 675. 54 12; 096. 73 Le O78 Sse cee
Wines and liquors=. 2.0 9, 006. 42 te 018. 20 198822015 eee
Miscellaneous: oss. oe ss ce ee Gee 4,086. 21 } A USS. OO ns seme oon ee eee 97. 44
Roba eee a ee ee 1, 560, 910. 48 1, 347, 012. 25 213; 898: 23 | See eee
Grand total earings. .....-2:....- 5, 199, 810. 69 3, 917, 840. 28 Le28h, 970241 gh se eee
Railroad operating expenses:
General expenses, New York....-..-..- 3,119. 50 SoPATOPD he eae es 2, 350. 65
General expenses on Isthmus.....-..-- 86, 414.13 69, 996. 89 LOGAN DAS | eee ese
Conducting transportation. .........-- 1, 008, 614. 69 914, 647. 85 93° 9602843 | ee
Maintenance of equipment.........--- 332, 958. 13 138, 557. 51 194, 400. 62 |2....-.2 2.2.
Maintenance of way and structures. ... 440, 944. 07 344, 088.15 96; 8502902 ee
ighterages |<. en see 117, 349. 74 123 04062712 le ao cere one 6, 295. 53
Docks and wharves, maintenance..... 57, 816. 33 56, 016. 06 80052 (a5 ee ees
Real estate expenses .................- 16, 737.99 11, 340. 54 5,390.40 A ear
Loading and discharging vessels at le
1701S OC Riess ee i eee 94,572.19 | = 18, 126.138 16446206222 ee ,
Total railroad expenses -.-.2....-..- | =. 2, 208, 526. 77 1, 731, 888. 55 416 ,638:..22.4|52 ee we
Steamship line: =
General expenses, New York.......... 24,149.76 QOS OVS aD cle ee ee 4, 863. 39
General expenses, Isthmus..........-. 39, 068. 84 36, 015. 43 3; 0038s 414 |2 5. ee
Steamer expenses. ...5.-.-..-..-.----- 1,101, 106. 98 1, 069, 630. 98 IAT OCOSS eee ee
ACP CNC VsOXPCNSCSe = 25 cc See 133, 062. 00 127, 831. 09 0,200 Ole eee
Cliarter: Osteamens= 6 ae es 104, 960. 00 E21 O98 teen ee eases 16, 719. 81
Total steamship expenses.......---- 1, 402, 347. 53 1, 384, 170. 46 LST Olea ree aes
Grand total expenses.............-. 3, 610. 874. 30 3, 116, 059. 01 AQ4 SU52 29) |e eee





Se ee ee
22

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Dasma C: Statement of earnings and expenses for the years ending June 80, 1907
and 1906—Continued.



SUMMARY.
Earnings. 1907. 1906. Increase.
Railroad earnings:
‘Colon to Banana. .asc 2 oo. $1, 934, 438.38 | $1,395, 818. 80 $538, 619. 58
‘(Panama -to: Colon. 526 3a ees ee 950, 371. 63 671, 990. 31 278, 381. 32
MiIScellancOUS@ Sore odes sc ones eee 754, 090. 20 503, 018. 92 251, 071. 28
Total railroad earnings............. 3, 638, 900. 21 2,570, 828. 03 1, 068, 072. 18
Total railroad expenses.,...-..--..- 2, 208, 526. 77 1 731, 888. 55 476, 638. 22
INeteamming soos. Sees. ee 1, 430, 373. 44 838, 939. 48 591, 433. 96
Per cent of expenses to earnings...... 60. 69 SSOUiO tse ox wees ee eee
Steamship lines:
MolAGesTnIM GS: seo oN es Ser 1, 560, 910. 48 1, 347, 012. 25 213, 898. 23
MOtalLexpensesias. 5-2. Se ee ee 1, 402, 347. 53 1, 384, 170. 46 18, 177. 07
INCUCATTING Soo or eee 158, 562. 95 @ 37, 158. 21 195, 721. 16
Per cent of expenses to earnings...... 89. 84 1OZR7OS Ree ae oe
Grand total earnings...............- 5, 199,810.69 | 3, 917,840.28 | 1,281,970. 41
Grand total expenses. .............- 3, 610, 874. 30 3, 116, 059. 01 494, 815. 29
Hotalnet earmnese. oo. sae eee 1, 588, 936. 39 801, 781. 27 787, 155. 12
Per cent of expenses to earnings ...... 69. 44 [QE OAS Bees ease ee



a Deficit.





Decrease.

commen mee wee
core new eens

eee ee twee ew we

wer wen wwe eee

Se

wwe en eee www ee
er
eee ee w ww ewe
eee eww wm wwe

Exursir D.—Statement of operating expenses of railroad for the years ending June 30,

General expenses New York:
Advertising—
Folders and posters.........-
Generale eee. hae sees

Directors’ and committees’ fees. .
General offices—

Repairs and=rent Ol: 2-5

Other, expenses... -.-......22.
incidentals 3
Legal services and expenses......
Ofticerss Salaries Of. 2
Stationery Bn Gsprinbinescs se
Telegrams and cables.-......2-.-

General expenses Isthmus:
MOVEEUISING:: (so) eee ee
Clerks and attendants, salaries of
Cablegramis cs: 02 eee
EROSpITaleseGviCe: = 22. a oe
dncrdentalss 2s nee
eral expenses ees ese
Miscellaneous. SR Sa ee aes

1907 and 1906.

ee
i
ee ed

wee w cw cr mm mem wm mw ew eee nto ew neces eee eseces
slalsleleicieioteia sisi sielelalole(a) = alelainiaislalclaletainioinialaivie
ence rucecccwc cee wc a ceercespecsencecece =
eo clelaleterolclclsic olalele:e cle iclele clelel=| els siueipiole ele viele
slaloieloioiate cfs loicieinictelote cain clalelalnlate sialelelaisialel aia
Pwo wre sce ws www cere s ee meas e ww ereacecn ses

i

eee r nee eee eee ee ee ee ee

re
es
were ewe eer ee ee ee ew ee wee we ee eee
were ee meee wee eee wee wee ee wee eee ee ee eee
wer ere eee we we ee ee ee wow ew ee
eee ee ee em mmo me mew ee wwe wm eww eww ees eww ew woe
wee ene eee ew eee em ee we wt ww ee ee ee ew eee ew eee

Office expenses ANGESUPPIIES ese se as ts eh ects ee wae nes

Stationery and printing..........
Motal sees os eens Ss

Conducting transportation:
MOVETTISIN Det ee
Clearing witecks: 62 8 ss:
Engineers and firemen...........
Fuel for locomotives.....-......-

Colones pee eS
Imjuries-to persons... ==. 2;

Ineidentalss 2 es ea
Labor—

eee ewe meee me we we ee tee ee ee ee eee eee ee

i ey

weer eee ee me ee we ee ee te eee ee

wee ee wee we ee me ew ete ee
wee ee ee we eee ee eee
wee wwe eee eee ew eee

ween eee ee ee ee wee ee ee

i ee a ey

wee ewe eee we we ee ee eee



1907. 1906.
$459. 54 $143. 90
188.17 180. 01
22, 817. 38 18, 523. 92
4, 046. 39 4,031. 20
3, 620. 07 3,572. 41
1,568, 34 4,120. 24
3, 191. 10 5, 071. 61
14, 828, 97 16,288. 78
1, 720. 83 2, 493. 51
678, 71 1, 044. 57
53,119.50 | 55, 470.15
45, 38 55. 15
52, 866. 03 34,179. 11
1, 269. 53 1, 039. 33
6, 329. 66 10, 800. 80
3. 489, 69 719. 09
"ATT. 85 1, 153. 05
2, 854. 09 8, 497. 11
11,118. 53 9, 465. 11
2,743. 87 1, 542. 56
5, 219, 50 2,545. 58
86, 414. 13 69, 996. 89
830. 20 1, 848. 15
6, 288. 44 1, 083. 90
98, 820. 61 78, 212. 05
74, 669. 41 75, 528. 57
39, 484. 89 35, 883. 14
41, 608. 70 50, 997. 94
2,794.18 1, 562. 35
489. 32 695. 82
165, 424.38 170, 861.09
105, 998. 55 150, 882. 89
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

1907 and 1 406--Contunued.









Maintenance of equipment:

Maintenance of way and structures:

Lighterage expenses:



1907.
Conducting transportation—Continued.

i; tallows anduwastes.. =... 2.22. ER GAY eyes dae aCe Segoe ar $5, 465. 31
Other supplies LOT TOCOMOGIV ES ce 2s a ee ee 2,121. 42
FVOUTIGIOUSGsINOM 3 oe ees eee ene oe 17,719. 48
Superimntendencerand: clorkeec2s2 sas a sn ees 8, 231.71
Switehmen, yardmen, and yard*watchmen:...: 2... 5.0.2.6 65.05.2050. 126, 414. 38
Sitabionaeemtsrand: clerks oS ee gs es ee eee 78, 845. 71
Station supplies and expenses.............- See ee aie 28,071.39
Stationery and prin tinge sae a i nd es ee ee 14, 680. 87
Train conductors, baggagemen, flagmen, and brakemen..........-...- 81, 863. 21
‘Bram suppliessandsexpemsess. 02a ee ee a 28, 185. 34
Molewray ln: GxpPCMSOse se ees ea oe ae ee cee ee 51, 854. 97
Water supply for locomotives....... Gris ci Pee i eS tee cet Rm ae @ 213.97
Rien tol DHIGInNgS: CUCs seas et a ee ee es 599. 94
Loss and damage, freight. and baggage...............-.-.-.... poe ore 28, 044. 99
OUTSIC Oa POniCle sss ete rancor ee ea DO2le26

ER obec So eres eee soa se eee rst os Se ee ee 1,008, 614. 69

Breightcars, repains ands renewals:Oho: 22 cs
TnciGem tals ee re esas Gee ene
Locomotives, repams and renewals Of. . 22.25.2522 -2 02272-6222
Passenger cars, repairs and renewals OLS oe: eee ee
superintendence andclerks 2: {2.3 se eee a
NbatiONey aN OTM Osea Soe eee ee ener
SHO DICK PCNSCS =. saints Sei i ee ew ee ee Le i ee
Shop machinery and tools, repairs and ene ae Ole ae
Work-ears, repairs and Tonowaleol = ee

Bridges and culverts, repairs and- renewals of...................-.-.-.-.
General otices, repairs*and: renewals Ofoc. 222-22 2.2. oe
Ienerd embellish cet ao eer Stee ieee
Machinery and tools, repairs and renewals of.................-.....---
Ralls:srenewakOlis soon se es eee Co a ee ee eee
Roadway andstrack Tepalts: Ole sss ss oe ee a eee
Road crossings, signs, and cattle guards, repairs a renewals of.....
Superintendence DINE CLOTS Se acess a a er cea
SWilChes ANdstnOSs “TENE Waals: Okas occ oe i ee ey,
Spikes and rail fastenings, TOTIOW AIS iO leceic cae oe = eee eal ec eee
Station buildings, repairs.and renewals of...................--.-------
Shop buildings, water and fuel stations, repairs and renewals of......
Stationery and SPOT G UN ee ee eee nee
Section houses, tool houses, etc., repairs and renewals of.............-
Ties, renewals OR ee ee
Telegraph, repairs and renewals Of22 2.52. 2 ee Se Sia age
Weeds, brushi-orass;etc. Temoval Ola... 2. 2
Repairs roadway andstrack< OUNGr Material. co. se ee
BniDlo yee S quarters, buildings and furniture, repairs and renewals...

TIS UNAM COR sept eee eee ee A ee ens eee es



uel ends waters eS ee i ee gee ae 6, 785. 76 7, 154.54
FVOSpibalisGnviCles sc oa i eae eae ee aoe 25008 |S neta
aTry CL CH erat yl Seer Sree ee ae Ce core ear eee 62. 44 1, 927. 39
a bOT ON CAangOss oss es ee SEG a Ge eee Oy ens bigs 12, 366. 25 49, 068. 0%
inabor omcargodslade Na@OSst 2:20.25 i. ae ee ee ee | eee
igshters; repairs and TrenewalsiOle..22 50.6226 ae a eee 14, 378. 85 11, 539. 16:
Other lighterage equipment, repairs and renewals of. ...2..-.-..-3.... 476. 62 i. 924. 04
SUL YD CS aaa a ie ee eee A Been ee tee, ae 8, 354. 94 is , 8712. 96.
Superintendencerand: clerks =.= ise ee 3, 272. 60 3, 144. 05,
SU SISECNCe SUP Sie: eee ee ee ee ee 2, 401. 47 |- 3,299. 95.
Subsistence; laborers; Isla de: Naos-. 2.02.) ee ee
Tugs, repairs and renewalsot 6, 1383. 96 3, 740. 76
Expenses: while OUG OL COMMISSION 2: ico oe - 4,95 "315, 38
Wid SERIO CIO W. Sees Sook a es ne eee ee ee eae 28, 048. 55 15,061. 77
Wepreciation of tues and lighters: 2.22 35, 066. 35 ~ 17, 997. 18
EIN Geli) eee ON es ore ee i SNE MN, 349. 74 123, 645. 25
Docks and wharves, maintenance:
Repainsanderone walls Ole. st ee ae ee Oe ee 52, 369. 35 54, 680. 26
MS urg nN CO sees ee Be a eae ee Ge eee Se O2SE BBs ee es
Pight-house and sharbomexpense.s<.. 5 e Se 2, 423.15 1, 335. 86.
FR OU NS OO a ape ie Olea aR ne en Be Oe 57, 816. 33 56, O16. 06, 06:

108, 762. 79
3,004. 18
83, 089. 95
33, 152.32
16, 787. 43
899. 5S

29, 363. 54
28, 417. 94
29, 480. 40

302, 958. 13

15, 378. 55
5, 167.74
967. 42
6, 456. 22
22) 844. 97
180, 187. 61
1, 527.55
13, 910. 60
7, 657. 30
16, 850. 41
36, 123. 87
16, 753. 28
1, 907. 27
495.54
29, 844. 52
18, 781. 59
4, 289.00
15, 974. 7
44° 081.73
1, 814. 13

440, 944. 07



98,

Exuipit D.—Statement of operating expenses of ratlroad for the years ending June 30,

1906-

$4, 208. 25.
2, 668. 9F
22, 009. 30:
6, 187. 91
101, 292. 26:
43,919. 26°
33, 048. 39
13, 264. 65:
59, 584. 8G:
13, 540. 96
24, 967. 46:
6, 150. 68:
TTF
11,349. 7B
4, 887. 64

914, 647. 8&

43, 720. 64

48, 276. 79
14, 137.88
11 824.86

457.17
2, 754. 82
9,964. 72
4, 420. 64

—_—

138, 557. 5X

25,119. 40
4’ 091. 83
2, 499. 97
3, 931. 95

30, 620. 04

63, 025. 98

216. 87
2, 406. 90

7,229. 18

14, 264, 42

44° 364. 75

14; 643. 87
1, 438. 06

497. 32

23, 728. 44

56, 528. 97
2, 409. 69°
4,038. 72

43, 108. 86.

a

344, 088. 15




24 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Exurpit D.—Statement of operating expenses of railroad for the years ending June 30,
1907 and 1906—Continued.



1907. 1906.

Real estate expenses: | :
Buildings repairs and renewals of. 2.2232 ee BARS So a Gil BOOL8S. | acca cose as
SSNS UE ATS CO ee se St ee eRe ent Oe ee EEN Al 2 Se a
begalandrotherexpenses. <=: os Soe See ee en ee 18, 048. 35 - $11, 125. 70
Water supplied to company’s buildings........................ eS esoapaios 4.80 214. 84
Motel 2 16, 737. 99 11, 340. 54
Loading and discharging vessels: —
Cranes—Supplies....... Boa ce re ee ea ae OES Cae ae Ce eg 20, 805. 41 3, 630. 39
RCP Ais ANG TONGWHIS ssn ce es ee ee ee 18, 468. 11 2, 803. 17
Opera bons esas See eee ee 52, 248. 94 11, 692. 57
BETIS UREN Cees eS ee ee ee ee ee JA CA20 Gee See Ne
Supermtendencerand-clerks 23. jNsse- tee eG ee ee 1S TLROSE See cee
Othermsup plies andsexpensess.. oS ee cee 1S Soledad eee eee ee
Mota] Ss ee oe ee ee Seer ese 94,572. 19 18, 126. 13





a Credit.

Exursir E.—Statement of operating expenses of steamship line for the years ending June
30, 1907 and 1906. :











1907. 1906.
General expenses New York:
Advertising—
HOLMErS: ANG POSLOLS =<. ce ee ee ee Sais meee $217. 37 $68. 81
General Sa ei oe eo ee wise Goeaue ee 95. 96 103. 89
Clerks salonies*Ols a. oo ees ee ee ee Po oe es 10; 321. 72 9,679. 37
Directors’ and-commiuttees” fees. 2.5. os. 2 os soe ete Seas Saree wie ae eis | ana ermine SS | eines eee See cies
General offices—
Repairsrandstent Ole ooo eee es RE eae a oe ee 1,834. 61 2,112. 08
OtHewexpPeCuSesss =. sss. eee ee te seein See 1,619. 85 1,847. 00
SNC TC CNG RLS ear se ee es ae erates Sse ia ie cbs CE SO BS oe eS 727. 78 2,067. 55
Wega servicestanG: CXPCNSES oo ee es fe ee ere 1,380. 13 2,626. 47
Ouiticend salaries Ole: 25 5 eS oe ee ee ee aes 6,821. 03 8, 627. 78
HEAUONO Ys aNG spl GING ase SF See ce ee ee eee oe 8 799. 37 1,317. 39
Releprams and Caples. <. 2 s e e eee ae Be eco 331. 94 562. 81
ETN OG eee ee ee i ee ee eee is 24,149. 76 29,013. 15
General expenses Isthmus:
ENGVOCbISIN Gee ace See ea oo ieee ie is oa en 18. 87 21.42:
Clerks-andenthendants -salatios OLS. 22... 2s eee res 23,828. 95 17, 595. 57
CableoraimSs asses ee ea eee Sues ee ere es ee 550. 26 522. 58
SELOSPLLAESClVAC Cree re ee ee es See ee 3, 083. 35 5,701. 32
Imcidentals: 925-32 Be SSE ec ns ree eae eee ee 1, 459, 22 331. 16
Weal expensese. e225 = BSc ue a eee ee eee SS eoee eee: 226. 69 612. 55
IMnSCCH AI COU Sie oe bee Serene es ee ee Scien ees 1, 315. 39 4,176. 47
OsnCOrs=calaries:Of S722. ete: Poco ee ovece ety ene ee eee 5, 058. 84 4,889. 95
Office expensesrand=supPHCS==a Ss oe ee emer woes 1, 168. 65 810. 19
SeAblonerysanMG Trin bin Pees se ee ee ee a ee ee ee 2, 358. 62 1, 347. 92
EO eal eee ee ete oe eur ee neties sc ee ee 39, 068. 84 36, 015. 43
Agency expenses:
ENV CLUISIN STEN OWS ADOLS is cs ee ee eee ae ee ee eee 3, 536. 46 3, 109. 69
Buildings, docks and wharves—
HVC WAU Saa MC eT OM beOle ns cee ee ee ne ee ee 40, 468. 77 AT, 962. 17
Othermexpensesac = oe ee ee ea eS se 12, 407. 65 6, 269. 65 |
ComuamissigncispaSSCUPOLS ms ss ce ee 1,173. 32 1,190. 85
SUTRA C Oc pe eee ees os eee eee 1, 447. 62 1, 158. 00
imjumies:FOspersOnS:--- => ss Maree SS LSS op pe cee ee Seria ees ee ne ae 135. 00
incidentals ees Se ee ee os oe Se ee 50. 00 60.
Wubor Cenerale a8 3s ao ee ee eee so oes oe eee 20, 984. 75 19, 032. 90
Legal services: and expenses - = -..-...... 22.2 Piaisyas in a. eects Some nme 147. 10 4, 50
NUDE SSS sai Cl ER TAN SR eae cs se RG rape eg ee 145. 73 38. 14
NalaniesOlagents and-clerkS= 2) 22 see oe ne See See 46, 513. 67 41,497. 64
Stabioneryand pmnpine 2 2. ee Sees ae Se ee neers ee 2,279. 89 2, 665. 71
MNelesrame:ana=Ca less Saas he ee ee ee ee 311. 00 302. 69
Max6s 0525. SE ee ee ene ee eee ns eee ee See eae 1, 200. 00 1, 200. 00
OQublside agencies = ee eee 2, 396. 04 2, 604. 15
AUS Gea ye ee ee ee en 133, 062. 00 127, 831. 09
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

29

Exuisir E.—Statement of operating expenses of steamship line for the years ending -

June 30, 1907 and 1906—Continued.



1907.
Steamer expenses: :
Custom-house andsport.Charges = 22525 25 2 oe ee So oees $13, 004. 98
SID) © CRY saa wa a I ee ee yas ers aoe 2, 021. 08
Hguipment, deck department=2. 2.22.2. ee ee ee - 10,395. 97
Equipment and spare machinery, engineer’s department......-...... 6, 878. 95
Equipment, commissary department Seine Rose Ae eee ere Re Ge 20, 453. 98
SIGs eres ee ee SNe a a a eaters eee che emote 194, 050. 66
Feeding passengers:and: Cre wesc sos So ase 141, 534. 89
PNGIMOMUHISE cece ees ee ee es cS ee en as hee ee hs eee 5, 339. 49
EnjuTiCS VO. PeCLSONS 5522 Se eae es ee a a ee 145. 83
NES OLIONE CALE Os Sie eae ae ee rae en ae pene on 187, 643. 44
TE ADOMONeCORL. = se ee ree ee ee ec ee as ene see ee 28, 019. 24
AZAD OT: OLE SILOS eo es Seer eee ee eer ae aie Re eaten 936. 25
OSsandsdaimaee: 2.22 5228 Se ae as Pa Ss 11, 119. 26
OilsanG= wastes eae ae es ae ee ee en 4, 360. 38
Painting ships; DOU Ome sae es os ee ee ee 3, 164. 70
Pilotascrand vO Waren cee oe se es ee ee eee ae eee 14, 323. 99
QuUaTaANtING 223s eee RS iI eee Rae pence Ei Dene eee ere 911. 00
Repairs seck depatl Men ts: ss 4 5s ee ee 26, 259. 58
Depreciation and extraordinary repairs, deck department............. 23, 870. 00
ICpairs, Gnpine-Cepanumemt na 52 Depreciation and extraordinary repairs, engine department........... 11, 935. 00
Repairs,commiussary deparvimenG..=-s2-.- 6 22 oe ee 16, 127. 96
Stores—Deck department ses 5 cso ie es eae Be a See 18, 277. 45
Bngine department 23s aes sae er Sake es eee ee eee ee 10, 223. 44
Commissary department Sasso es ee eee 6, 165. 91
Surgeon’s departtiten tacos ei ss ee 648. 56
Stacionery, and prin Vines ee ee ee eee 1, 323. 59
(Relegrams ands Gales secs Se ee ae Se ee 4,344. 04
VEE OS ei aaa ern goin een rs cena cre Smears Spee one STE 207, 869. 75
Wailer Sse Bes Saas Ss SEO RE os Sa See a 16, 583. 30
Wisi SI eee rae Ge erin a pe a Ra oe Sn a care ee ne ere 6, 771. 33
BUST SUNT STC Ce a a pe a Ee aD act a meee a me ae pe 56, 484. 86
WO UALS ees ee Sane Pe Peat Ore oe Go ew oS ae me wae ee nas 1, 101, 106. 98
ChanterOr Steamers ese ar Ae ee ete 104, 960. 00
Grey GLE 0 teh eco ee Se een cee ssi en eee 1, 402,347.53 |



1906.

$12, 486. 50

?
170, 552. 06
126, 253. 58
4,905. 98
"196. 00
202, 023. 40

205, 994. 17
23/665. 58
6, 548. 18
57, 846. 83

1, 069, 630. 98

121, 679. 81

1,384, 170. 46

Exursir F.—Statement of expenditures for improvements and construction for the year

ending June 30, 1907.

Locomotive and car equipment:
NT OCOMOLIVES 223 oo 2 ee eee ns nee mies TAN
IRAaSSCNe er ANGs DAL eAGe-CAlS see ee i re ey ee eee ee
OR CHES ope ee re eo iS a ee a eee
OBIE CERT hawt aa nt ames re en
IVAN SeCaTs (Ors ADOTOLS 32ers os ee eee ee ee eee
SW-TOCKIN GPCrAN Os aera ee ee ta ee es ee eee
Roger-ballast:Cars 22625 22 2s ee ee Se ee sn Ne a ae
TORSO POWs CHM Se aaa En oe een nye
DU OCKE GAS Sess em ey re race Se ee eee

Buildings and other structures:
Completed—

Duplicateeclectric:hght-p, amt;-Colon c=
Lmprovement tO pletNO-4, COONS. n. cc ces es eee
Colored laborers: quarters, ©ristobalio.. -.-- 222-2).
=Mechanics:quarters, Cristopal- =... .s2.c2-- = -- + 2. Risen ere
lim provement-ota=BOCAEDIOR icc s =.
Panama coke UATLClS = WasbOChasccs = coo Sore as oe ee ee ne
Hamibyequarbers CtistODale <2). 56 oes: ee ae en ee 5
Axtensionol ©ristopal CoOmMISSaty.« 23-625 ee a
Wiaterotavion: Cristobalyatdccsso2c 96 5 es oe ee

New station—
Ta Sc BSCa CaS er i ee ee ee eee
AIS SUS ODDS 1D Oo aca ee
Culebige a3 BED may Sere eas ree ae pee ep neater

GOTLON Gees eee ee noes ee ees Shna e oeee eee
Cristo Dale es ee ee ees ee ence
ING WwapUulpsstations=ErijOlOS=e22 4 ass tee soe ee eee
Brown hoist coal plant
Installation 5-ton ice plant in temporary cold storage plant..-....-. =
INewapalnGshop: Cristo balecas: = 32s. or eee

eee ee ee ew wee eee ee eee te ee eee eee

ING WIMechamicCs: (UATUCES=. <26.-0 sss se es ee ee eee

Stock yards—
Gorgona and= Minden ee ee ee ee
HN Pires 2. ss ae SS eee ci ae a eee

$98. 34.

774, 05
518, 496. 74
16, 082. 48
2, 204. 58
92. 00

156, 935. 10
2,754. 45

12, 664.99



13, 126. 62
8, 968. 06

816. 85
1, 086. 44

$710,102. 78
96 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

'

Exuipit F.—Statement of ie for improvements and construction for the year

ending June 80, 1907—Continued.

Buildings and other structures—Continued.
Completed—Continued.
Residence; quarantine Oficere soe = es a ee oe
Office building; Colones ee ee

Pipe line, dock 14 to water Tanke Cristobalesnce ss. cote ee ee ek
Enlarging Station: “Tabernill as sak as rs een nero. Ss
Section and tool house—

HillinesShaler Park: Colon. 2.23.2. senesced Sitcoms Marne
aborers: quarters’:dock 4 Colon so: a3. oo oe es
Mom porsny-renmigcera tine plant. COLON. 22 os SL ice sae Se eee
Uncompleted—
Coal Chuler cee see arene ea ee eens Een rartoe ee wee oes
Cinder prbCristobalsyardes.5 soso et ee ea
PurmgablesCristobal yard a) see ce ee os See See oe os ceca
Heine house sCristObal-yard=. ess SS ee ee
Permanent rer cera ting plant == .c8 se ce eee ee ee ees eee
Laundry at Cristobal -
Bakes Ge CTISCOD Gna Sta es eee, Bee came eer ee eas ep ye
HMIeCETICCrANeS ba BOCA What ose. eee oe
Duplicate electric light and power plant, La Boca..................-
ING w- coal: dock -hasB OCR Sik eee oe So a ee aera ee
New station—
MioiGe Gini esis ses 2 oo Ss ee een eS Ge Tea mS cnt eevee
POGOe MAR UC ee cee eae eR eg eee
Ga GT eas ae ee ree ins eno GOR oe yr See
Two newalamily.quarters, Cristobal. —. 9. - cose ate ee
Extension commissary warehouse, Cristobal...................-....-
INGWe relight MOUSE; SBaMPITOs eo rer ae ee eR Secs Seer Reems
Water station Pedro Miguel =<. ose eee es
Waaterstation= Matacbinae: 2 22 iss) Sa Sees ee eee be ee
Section and tool WOUSE; GOrPON Aes aks ose eee ee ee ae
DECELONENOUSe Ga GUTS oes eee ee te eae eee ee eee
OeCCULON: AN G=bOOLNOUSC: -rPANAM aces oho ee oe a a
Addition to new storehouse, Cristobal shops._..........-......-....-
Boilernouses Cristobal:shops:: 26 sss 2 ee eae oe ee ae i ee
Purchase and repairs 4 houses, Fox River. ..............-...2.....--
Extension oil house, Cristobal ee
TRrOWSUTe svat ae OCR oe Se Sees Soci scree eke wee SS
Dry kiln and pattern room, Cristobal -ShOPSs-ssse.5 os. sooo ee swe
TR OUSGZO MER OX EUIVObs tees ees ee re eer ts ae ene oe
Poalonsioms whet iN O.°4; COLON Sao. oe aes ce oe Se ie te es
Water-closet, Cristobal cold storage plant Eos an eee eae
Material store, Mount Hope oie svar crSee Sis cts Gein ees es ous Cea

Floating equipment:
Completed—
ew refrigerating plants, S.S. Finance and 8. 8. Advance.........-.-
Uncompleted—
INewelieitenseat: COON = ease sce ee ea
Re DUM ma pe SS. ALA CO hs ee

New sidings and yards:
Completed—
New yard—
WA BOCA She sese ree See Sine ets Sas eos an ene es dee ere eee 3

Passing track—
aap Cees oe ea Se ae he tee Went aman eter ayer oem cee
GOP OMA ese ois Pan ae oes SES i Re ae ee eS
Newasidingzand: cross-over; Bas ODISp0= =222 <2 222s o 2
Cross-overs, Gatun to Banaiia- 9 8 se) ee ee

New sidings, Ra Dern aes ese Se ae se mo ae eo ergs

WOR ERA KSC OCA ea 2 eee eee rig eS ee pe a ic ote, aN
ASSine track; COLOZal= 2s. 22 see ORS SOioa Re SSS Re en eae ee pene
Mainline drack.WaBoca-y tOsUnChION Mc 22 5S ee ee
SPUT track GOTsONa Sos oe ee ees oe eee ee
Track to new freight house, Empire-........-::::..:-2 Sea ae secs se
ENGW. DOUSE Cracks 2B OHIO ss ee eae ee Sesion neers Bee
Lumber yard tracks to serve dry kiln, Cristobal shops..-.-...-.....
_ Uncompleted—
New yard, Cristobal...... Sa a Eee > coi eR eka re re Se aS
Track to serve new coal dock, La Boca wharf............-..----...--
Storage yard, dock 11, Cristobal. a ERS Leet Oh ed a iene eee
Storage track, Gorgona So Fe Res gn CONE UE Ue See EUR eC cee
RNTeCCICTOSS-OVELS ely aicls OCA seers 5 ee ae ee pe et en
Extension, Mamei DASSINPAOTaACks Sess Sore See ae ee
Two new tracks east of freight house, Colon.............-: Sees Ns
New, delivery track. Culebra) ies 2 2 eos an oo Se ee
ING w2hbousestrack« “RedrosMioueli s s e ee
Passings tracks B ONTO 2258 2a oe et ee ee bas ema oe
Tracks and cross-overs, Matachin...........- ee DEN trator ee Ege e

1, 383. 55

@

$6, 134. 41
33, 975. 82
5, 552. 36

588. 90

* 1,558. 35

961. 68
972. 63
942. 78
723. 02
2, 675. 42
5, 598. 76
27.54

9, 545; 02
8, 686. 42

50. 25
17, 997. 76

258, 142.72

19, 786. 47
34, 919. 45
30, 876. 82
79, 466. 20
9, 285. 97

4, 562. 32

IG 229, 57

34,315. 07

42, 674. 46
2, 826. 26

52, 149. 41
10, 507. 91

7, 929. 85
6, 886. 51
5, 576. 69
21, 651. 86
8, 165. 08
7, 930. 70
6, 256. 07
26,727.74
1, 874. 86
4, 435. 40
2, 363. 27
1, 456. 62

$829, 303. 41

81, 199. 34
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. o%

Exutpir F'.—Statement of expenditures for wmprovements and construction for the year

ending June 80, 1907—Continued.

New sidings and yards—Continued.
Raissinguirack: shind@les = she oe eer Aen otal Gite $3, 129. 64







a ANNUINSS Un TSNE AK ASEAN TRIN 2 ere ee ena ue 5, 205. 34
PANS p WATE HC TISLODN) eS as Be ea 6, 301. 06
Commissary and delivery tracks, Bas Obispo... . 22. 22... Seay epee 6, 597. 00
ING Ww housestiack, AnhorcasWacarvOn=. 222. ee oer ee ee ae 2, 784. 85
Industrialttrack -Panamae oso. ee es oe Pe Be ee ee ee 434. 93
New paselne track, GOTROM Bree eet pe a ere eo eee 3, 822. 75
New house track and team track, W788: CASCACAS ee eee eee eee es 7, 741. 94
S2SiGiNG Se OM PEM soe oo beet ee ere ee RT pent tetra ey Or oye 2, 188. 59
PUATLONSiGiNG. aNd CLOSS-OVEL,. HIM PING a2 52. : a ee 6,877.91
OTOSS=OVC Ts Ge GU se es eh I oe te ee avec g ee ee ee 781. 53
INewssid inorand.CUrnOUl GOUuUl: -s.25 2 cme) ca ee a 128. 05
Buline’space between-la- boca branch = 202-5 ee 3, 025. 00
UE Oh
New machinery and appliances:
Completed—
A Cranes a0, Wa sbOCA Plele = cascade eos cer ee eno 6.10
Cantilever cranes. teehee nee me tc er ae ene ener nie 60. 38
100=tomtrack-scale Cristopalward’2c sc. ee ee 3, 965. 63
Crossingvgates, :Cnistopalecs. os. oo 2 ses ee es Sees es 1, O82. 69
Unecompleted—
DitechingsmMa chine ee ses Se See ee ee eae ne ee 1,574. 66
20 Semaphore Siow a issss oo. es sees Oe ee eyes 6, 768. 80
oe 13, 457. 26
Less credits for receipts on property sold, accounts written off, and 2, 040, 849. 41
other adjustments:
Proceeds irom: salelstwO NOUSCS: 3. -. a. ea os ee ec z 250. 00
Adjustments— : g
ocomotive and:cax equipments... 5.222222 eee $2, 380. 76
Newsmachinery: and: applianees=. 2.2 22 ose ee 431. 35
Buildings: and: other structures: =o. 222-22. 25, 389. 21
ING WaSidIN eS and: yards se as ee Sjoerd
—- 29, 412. 66
— ——— 29, 662. 66
Grand GOG ase Se a a ea aus ase aie nae aeoa eee 2,011, 18. 756

EXHIBIT G.—Equipment and plant replacement accounts, June 30, 1907.









Amount.
SESE Cay Ss zt
Locomotive and car equipment:
10: DOK COLO eetss ee Rs eet: are See Hee ee a a a en cr me $37, 558. 00
Go Bt COM Sete ce ce ee ea a eee ee ee es 11, 415. 00
34 COAL CAIs sc2-2 2s sa: Pees seine a SNe Cee ieee UE Cte mire Cam er eee 6, 460. 00
DiS VOCISCATS Arteta oes Hee See es eer ae eee store ope aie g a gn clue ae ear a] 440. 00
ZeWAvOL CAG sons. esc BES apatas oye Tame era aoe ar is CO Capen le sace inate Veta 580. 00
LDAP Pao er Car er Sere eer Sao es Pan eae ie Se ern a eimaat 1, 800. 00
IPOXPICSS COTS ee ee ces eee Wear ee 280. 00
ICA DOOSC COE Ss a ae eee ae Sie en ete ee eee pn 350. 00
UG anise COs ere net ee seein cee Se me nee Bee Sie as eee 290. 00
TESPOCLG; COT Hea 2 es Sis oS ore ne eee re Meee ras 380. 00
, value. Rate. Period. Amount.
Floating equipment:
Seer Allianca es a=. 8: $154, 152. 97 Prior Jan. 1, 1906. $935. 83
be: Alliance. 23.2.5: 154, 152.97 | 6 per cent ...| 18 months ..| 18,873.86
Se-Os -Minance 2.022 2: | 221, 41039 0\oeee Os. esas dora: 19, 926. 90
Sos: Advances: 221, 186302 =.= dO. Sees dO. 19, 906. 74
Bugs Olivia eas =. oo 70, 001. 78 Prior Jan. 1, 1906. 10, 755. 12
Muss Olivia e224 70,001.78 | 10 per cent..| 18 thonths..| 10, 500. 29
us Cristobal. <= ST 942 bse do. Hs do 8, 691.31
- Lighters at Panama..| 162,999.49 |..... dos sees (OKO es 24, 449. 94
Lighters at Colon....| 125, 422.94 |..... donses=: | 6 monies -|. 95,971.99
Plants: |
At Colon and Cristo- .
bal—
Ice making...... -.| 17,018. 47 | 6 per cent...| 18 months...| 1,361.12
Cold storage... .. S0S2ea4 eas 2 OOen sce. 11 months .. 163. 24
Refrigerating. .... 260193873: |faaes OKO eet 2months..:| 2,553.65
IB AKeLycsce ee oe 34, 497.32 |....- Osea: GOs 343. 92
Maundy 2.5. 23,054.30 1ose =. Koen tes [aoe aes dO 2232. 225. 51
Electric light and | 17,397.01 | 8 per cent.... 14 months..! 1, 417.36:
power.
At La Boea, electric | 18,180.86 |..... GOs Se (3 Ios emer 1, 696. 94
light and power.
At Ancon, electriclight) 5,033.19 |..... doses ds 469. 76
| ——————|_ 8, 231. 50



Total.

—

$59, 553. 00
eee

115, 011.98

182, 796. 48

a a

~
28 REPORT BOARD DIRECTORS PANAMA RATLROAD COMPANY.

Exuipir H.—Statement of classified railroad earnings, tonnage, and passengers, Colon to
Panama, for the years ending June 30, 1907 and 1906.







FREIGHT. |
= Tonnage. = Earnings. oe
1907. — 1906. Increase 1907. 1906. Increase. | 1907. | 1906.
THROUGH. : | .
From New York....-. 112,339 | 97,525 | 14,814 | $893,843.13 | $337, 432.19 | $56, 410.94 |$3. 51 | $3. 46
From New Orleans...| 7,507 3, 429 4,078 27, 737. 97 11 950.69 | 15,787.28 | 2.18 | 3.49
From Europe..-..-.--- 126, 910 105, 710 | 21,200 443, 006. 33 387, 018.90 | 55,987.43 | 3.49 | 3.66
Notal sss ses 246,756 | 206, 664 | 40, 092 864, 587. 43 736, 401.78 | 128,185.65 | 3.50 | 3. 56
LOCAL, SSS SS SS ee |
Gommerciai ss se 84,529 | 48,159 | 41,370 282, 931. 92 171,670.18 | 111,261.74 | 3.35 | 3.98
Isthmian Canal Com-
MmissONse. 3 271,046 | 137,129 | 138,917 | 485,855.19 | 263,838. 43 | 222,016.76 | 1.79 | 1.92
Company freight..... 37, 801 | D2eO38; eal as ROSE ns Se [ocr eee ee eee
Motalo 2 393, 376 | 203, 226 | 190, 150 768, 787. 11 135, 5 508.61 | 333,278.50 | 1.95 | 2.14



Total freight...| 640, 132 | 409,890 | 230,242 | 1,633,374. 54 | 1,171,910. 29 461, 464.15 | 2.55 | 2.86















MAILS.
Weight Gods. > amine’.
= | De- LS De
1907. | 1906. Increase. Orenee. 1907. 1906. Inerease. SOTA
From New York . .| 1,242,500 | 1,047,000 | 195,500.|-....-.- $79, 623. 74 $73, 599. 48 |$6, 024.26 |-....-.--
From Europe ....- ’ 120, 983 112,013 89/0 So 9, 675. 44 9, 138. 48 5386590 |i ee
Pocal= se 150, 881 150, 873 See esl 9, 584. 47 4,037.06 | 5,547.41 |.......-
Mousses: se 1, 514, 364 | 133095 886 4). 2045 478). S223 82 98, 883. 65 | 8655.02) 12-108: Gos 2 =
TREASURE,
Value. = Harnings.
| In- De-
1907. 1906. Increase. | Decrease. | 1907. fo0e Ginaces torence.
From Newry ork . .|$1, 700, 990. 00 $1, S203 OS OU ee nee eee $127, 789. 00, $3, 321. 60/33, 730. 31)....---- $408. 71
drow Europe aes 2. 424° 480. 00 2. 193. 955. 00:$2305520200)2=2 2s. 3553 ap 641. 12! 8, 103 2/8iSs.- oa 462. 66
ocal:
Commercial. ....- 164, 680. 00 29, 500. 00} 135,180. 00)........-- Ala 247202 62. 00; $185. 02).....-.-
Estumign: Canal |- 2.22 1393500500 Rosa eae 189, 500. 00) Seine 194. 0 [ere =a 00
ROtglies 2 4,290, 150. 00) 4, 241, 734. 00! 48, “16. OOS eee { 209. 7412, 090. 09|.......- 880. 35
| |
EXPRESS
Weight (pounds):
ocal commercial—
GO Ae a a asa oc Se see meee Se panies Wo bee eeeeenS 61, 028
ENCNORSOre hee Soe eee ee ee st ee peo ate ope as ee aa 61, 028
Earnings:
I Tres ee cre nen ee re eres Shc ieee ns en ae ee $367. 56
INCTOASCS oes ies ee Sa SS Riparian ar at ge $367. 56
BAGGAGE.
Weight (pounds). : Earnings.
& De- | De-
1907. 1906. TRCLea ee: OTodse: 1907. 1906. Increase. Croan:
From New York..... 87, 433 TAQ SS 2855 ee coe 53, 095 $850.41 | $1,521.19 |.......... $670.78
From Europe.....--- 117, 120 93, 076 24,044 |........ 2,342.40 | 1,887.45 | $454.95 |........
WUOCANS Sake sees 954, 811 O94 DAT aoe 39, 4386 Wie 138.822 2143872004 2; (oleS2 =

1

Totals = 115086411227, 8pl |e 68, 487 | 20,331.63 | 17,795.64 | 2,535.99 |........
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 29

Exnisit H.—Statement of alescincd railroad earnings, tonnage, and passengers, Colon
to Panama, for the years ending June 30, 1907 and HOU Je aster

PASSENGERS.
Number. : Earnings.
1907 1006. |Increase.| 2®& | 1907 1906 cree, De

; Si *| crease. : : " | crease.

From New York: |
First class... -- 3, 597 3, 083 514 |...-..-.| $10,930.42 | $9,324. 10 $1, 6062.32 eee
Second class... 326 AOE eee 84 1, 443. 37 MOO OU ee ee - $345. 60

From Europe:

First class....- 747 713 Oa ore 4, 521. 60 AGL 2o aloe ae | 95. 62
: pecond class... 455 415 AQ ei os 1, 772, 22 ie S59°49: ee ee (Sh 2d

ocal: :
First class...-. 166, 444 60,976 |. 105,468 |.....-.. + 72,765.75 | 36,646. 24 | 36,119. 51 |....._.-
Second class...| 289,815 165, 105 QA LOR foes ee 78, 837. 90 53, 017. 64 20;.620:20, 2. nee
Totale:.. % 461,384 | 230,702 | 230,682 |........ 170, 271. 26 | 107,247.66 | 68,023. 60 | eters

Statement of classified railroad earnings, tonnage and passengers, Panama to Colon, for
3 the years ending June 30, 1907 and 1906.













FREIGHT.
Tonnage. Earnings. Rats Der
1907. | 1906 In- De- 1907 1906 Increase Deareake 1907.|1906
: * lerease.icrease. : : : : :
Through—
To New York..| 64,360) 73,275)....-.-. 8, 915/$197, 597. 78)$214, 847.30).......-.-- $17, 249. 521$3.07/$2.93
To .New Or-
NOSIS epee le Le ee ee | ree er eee OD nat were O12 3.77
To Europe.....- 69, 557 58, A449) 14, M1bh oe 237, 538.14) 214, 613. 39 $22, 924.75)-..------- 3.41} 3.67
Totals... 1338, 917/131, 730) 2,187)... .. 435, 185.92) 429,510.41) = 5, 625.51). .......-- 3.25| 3.26
Loca]— oS ee ee ee ee ee ee ee
Commercial—
La Boca, Pan-
aa ae 11, 458} 9,874) 1,584)....-.. 5,668.48} 5,001.97 66625L == ee = ~OUle ol
Panama, Colon. 16, 171 12, 465 ae (06|22 56, 517.74 35, 071.05} 21, 446.69|......-.-- 3.50) 2.81
Isthmian Canal
Commission. - ‘|130, 947) 81,253) 49,694).....-.. 258, 630.39] 76,895.86) 181, 734.53)......---- 1.98) .95
Company freight - 3, (21| 20; 499). -- .--- LOTUS ee as ee ee on ee | Set een
Total........ 162, 297/124, 091) 38, 206]......- 320, 816. 61 116, 968.88) 203, 847.73)......---- 1.98| 94
Total freight. 296, 214/255, 821| 405393 Rees 2 755, 952.53) 546, 479.29) 209, 473. 24)........-- 2.55| 2.14
MAILS.
Weights (pounds). Earnings.
1907. - 1906. Increase.| Decrease. 1907. 1906. Increase.| Decrease.
To New York......| 123,723 | 100, 452 DB Deen ee $5, 969. 72 |$4, au 3 Sil o2eloe ie se
To Europe........- 5, 670 6; 826218 1, 156 599203: 222042. 08 $48. 25
ocala 7, 363 SS2045 ieee 901 810. 45 | 1, ee a See nee ge 207. 29
otal ees 136, 756 115, 542 DR GA Ve ee eeceaeuc eae 7,379. 20 | 6, 477.61 OO 59. ee
TREASURE.
Value. = Earnings.
1907 1906 Increase | Decrease.| 1907 1906 ane ee
: : : : : * jerease.| crease.
‘To New York...... $1, 295, 429. 00/$1, 273, 208. 00} $22, 231. 00).........-. $5, 172. 37|$4; 904. 50/$267. 87 Sn aeee
= PO; Europe ee rae 2) 293° 883. 00 2 807, 224, Ole ean ee $673,341.00 ie 278. 96 8, RRO Ole oS $1, 603. 19:
Loeal: :
Commercial...... 10, 605. 00 5;100200|- = 5.:505.00\e a 24. 92 RT ble Oval ee
Isthmian Canal..| 395,000. 00 20, 000. 00 375, OOO 00 nes 592. 50 5200) 087.5052

a | ap | aS | | | RT |


?

30 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Statement of classified railroad earnings, tonnage, and passengers, Panama to Colon, for
the years ending June 30, 1907 and 1906—Continued.



















: EXPRESS.
Weight (pounds):

IDyoxer Erevan ae wea ten ces C2 Se SEES SS SON I Pe Se SE LG 99, 152

PNCTeASes sss: CS SS a GN ESR a OGL GN pr Sr TS 99, 152
Earnings:
we LOOSE: Beat Sones fae ee SE eS ee ees Ue Ce WAU cn ec Ce ae ee Ger ae eee $088. 62

. -Inerease..-.- See Sa SS aS ea Se ee eee Te ec soy s ern a oot men soeiaes $588. 62
BAGGAGE. ae
Weight (pounds). Earnings.

1907. | 1906. | Decrease. 1907. 1906. Increase. | Decrease.
ae | _ | —
Mo: New-Y OV: 2522S. 16, 954 | 24, 101 | 7,147 | $329.89 $458 De es ees $123. 32
POM ULO PCS sss eos pee Sees e: 1, 500 | 1500: sees Sa SiO0S See eas 3. 60
Wocals. Ss.5 oss ase 837,093 | 908, 205 71,112 | 16,747.61 | 11,876.94 | $4,870.67 |.....2.--..

Totals 2s 05. Ses 854,047 | 933, 806 79,759 | 17,077.50 | 12,333.75 | 474315 oe
PASSENGERS. :
Number. Harnings.
. | |
1907. 1906. ae a: Decrease. | 1907. 1906. Inerease. | Decrease.
To New York:

First class.... 571 S885 eae 267 | $3,477.14 | $4,889.03 |........-.. $1, 411. 89

Second class -. 788 OLS see 125 3,409; 12-1 45.092. 052) 25. eas 5 632.93
To Europe: :

First class --. - 873 | 473 AQ so es > 4952608 23. 387.22) |, pk, OO0soo |= nee eee
= econ’. class. - 172 82 DON sees eee | 698. 66 360. 25 S884 noses eee
-Loeal: |

inst class 35.) -15284o"| 59-6974 95 148 ee 68. b47,01 | 35102 70. 138,400.31 ee

Second class. .| 265,644 | 155,525 | 110,119 |..........- 75,170. 50 | 45,060.01 | 30,110.49 |..........-

SURO ase 420,893 | 217,528 | 203,365 |........... 156, 305.03 | 92,899.26 | 63,405.77 |........-<-

| :







Exursir [.—Statement of railroad freight statistics, for the years ending June 30, 1907





7





and 1906.
1907. 1906.
GOSS Ca TINE Ser es os ea ee ee ee ee aes ae $2, 389, 327.07 | $1,718, 389. 68
Freight train mileage (including all mixed train mileage) --.............-.- 203 ,.560 169, 576
Hreishe trains perdayepermrle:ol road's 25 fies 9, 27
-Loaded freight car mileage.............:. ee een ee ele sais 2, 389, 075 2,192, 757
PTI EVetrelom uy. Cat INCA Qe. coe tee lea ee 811, 365 671, 898
Caboose Carmileage:. 452s So ee ease Sao Sere ee 244, 531 205, 318
Movalareicny car mileage; including caboose..2-2. 2-5 2. 3, 444, 971 3, 069, 973
Percentage of loaded car mileage to total freight car mileage (including
CBD OOSC) eee ee a a ee een oe ee 69. 35 71. 43
Wordedareieht Cars: per train = ee ee Dae 11.74 12. 93
PMD Uyel rele aCAatsepe lat rallnac. wos 6 Cote Se ee 3. 99 5. 96
froaded andtempbtysireishticars per trai 2 esc ee ee 15e73 16. 89
ons or hrousnecommniercial Creigiit.. 2G ke es _ 380, 672 338, 393
ous On localecommienretnlineleh tes. = ee 112, 159 65, 499
Tons of local Isthmian Canal Commission freight................... eres 401, 998 218, 383
FROUS_OL COMPA Yethelo itera eee Oe ee 41, 522 43, 485
Mons.oireventic-andscompany-ireisht. Carried. 3-6. es ee ee 936, 346 665, 710
Tons of through commercial freight carried one mile....................-.- 18, 444, 583 15, 919, 985
Tons of local commercial freight carried one mile............. Meee een are 4, 145, 521 2, 186, 005
Tons of local Isthmian Canal Commission freight carried one mile.......- 12, 750, 278 7, 242,121
Tons OL company. ircight carried one mile. == 222 1,444,943 | 1, 248, 117
- Tons of revenue and company freight carried one mile......... eine en Seen 36, 785, 325 | 26, 596, 228
Tons in each loaded car (including company freight) ................. Sees es 15. 40 Seal 3 =
Tons in each car loaded and empty (including company freight) .......... 11. 49 FEN OE 2S
Monsdnsea che trai ae Pe et ee ee 180. 71 154. 41
Harninosepertreisiigcarsperdnile =e ee fete Soe ess cents. -| 69°36 55. 97
Average miles each ton of revenue freight was carried....................- 39. 49 | 40.73
Harnines per imel sige bain esc oe ee S11. 74 | $10.14
Harnin Ss per tomiot revenue trelght. =o ee $2. 67 $2.76
Harnings perstonxVenwule seit a pe es aces cents. 6.76 6.78
Tons per revenue freight carried one mile per mile of road................. 705, 256 | 505, 849
Warnings perimileol roddec. 9 fo tess ee $47,681.84 | $34, 292. 36
stunated loaded carsimeach train... 2. 14.33 | “1559
Revenue treisht engine mileage: so. 8 ese A ie te a 205, 774 | 189, 096
Estimated loaded cars hauled per revenue freight engine.................. 14.18 | 14. 20
Tons hauled per reyenue freignt engine...................2... Peet ES sees 178. 77 140. 65
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

31

Exuisit J.—Statement of railroad passenger statistics for twelve months ending June

80, 1907 and 1906.

1907.

$495, 482. 94

Gross earnings (including mail, extra baggage, and treasure) .....-....--.-

Passenger train mileage (including all mixed train MUNCH e) ee ae eee ee 143, 871
“Passénger trains per day: per milevot road =.=... 2... 6-8 eee 7.87
Cogichsmilegige sos Ss eae ee ote ae ee isos era ay Rie Nouri e Spann re 768, 469
Baggage, express,and mail mileage. 22... <2. 22. -.22-5--¢---2- ps TE eee es 143, 944
Total PaySSeneer CaremMilSH OCs ss ee ce Ss eke ete ie a ee ns 907, 413
IPASSON LOLS CALICO Cicer ee er pe ee re ie ono ere 882, 277
Passengers carried lsmile. 2 secession ae ee 11, 254, 152
AVeragze- Gistance- cach. PassenPer CAnTICN a2 cn ce tree oe eee ee ee C 12. 76
Passengers in each passenger trains... sss Noes ree ee oe 78. 22
Passengers in each passenger car (excluding baggage, mail, and express) - -| . 14. 74
Harnines perspassenger train mules: sats eo ee eee $3. 44
Harnings per passenger car mile (including mail and express) .. ... “cents. . 54. 60
Cars in each passenger train (including baggage, mail, and express)......- 6. 31
HMarnings: Per passengers se se as ae ee a aero so cents. . - 37. 02
Harmings per passenger per mile 22 = 3 Be Gree dow ; 2. 90
Passengers mile perimile-of roads. a2 eee ee eee ee 224, 588
Harnings per mile of road......... SNE ae oe ty eA Us eapn ay Sawer cant eae $9, 887. 90



1906.

$349, 419. 43
164, 811
9. 01

594, 679
164, 208
758, 887
448, 230
6, 302, 957
14. 06

38. 24

10. 60

$2. 12

46. 04

4, 60

44, 65
3.18

125, 782
$6, 973. 04

- Exurprr K.—Statement of railroad general statistics for twelve months ending June

80, 1907 and 1906.



1907.
Average mileage operated=.:...... = ee eae Be een 50. 11
Rovalireight- and passenger carmines.<...2 5455-28 | ase ee ee $2,884,810. O1
Totalincighit-and-passenlerexpenses , 2222 aloo. Sh oe a as ee $1, 922,050. 52

Net ireiphitzandjpassengemeaimines.2 2 aeons ee a a eee

$962,759. 49
Percentage of freight and passenger expenses to freight and passenger

SRCSeL tt) mal) Wa hs ace ce eR a a te ec es Se ee a ere A ie neaion nr en er ea 66. 63
Total revenuestrain mea ee see eee i eee Ae 347, 431
Gross earnings per revenue-train mile. 22.2 2 222g sons 2 ee eee $8. 30
Operating expenses per revenue train mile....... ieee ae es BR eR a ee $5. 53
iNet earning siperTevenue per trail: stem t ee cee oe ae wee $2. 77

Potal-GrossiearMin Pesce es ee ee ee ee ee ose $3, 638 , 900. 21
MOUMIVETOSS CXPCNSCS ot Gasca sees oe ae nia See ee eee $2, 208, 526. 77
Net earnings, all sources $1, 430,373. 44

Percentage of gross expenses to gross CQIMING Se cece eee ee 60. 69
SHarnings per millecOlnOa Gi cee sot ee ies ee en eres $72,618. 24
sh XPeMSeSs pel Mule: OL LOG enka see re oe ae ee ee $44, 073. 57
Net carninegs permile Of roaGs 32 oc so5 eee ee oo $28, 544, 67



1906.

50. 11
$2,067,809. 11
1,522,760. 55
$545, 048. 56

73. 64
318, 739

$6. 43

$4.74

$1. 69

$2, 570,828. 03
$1,731,888. 55
$838 , 939. 48
67. 37
$51,303. 69
$34,561.71
$16,741. 98

Exuisit L.—Statement of railroad freight tonnage handled, years ending June 80,

1907 and 1906.

FIRST.—FROM ALL POINTS TO ALL POINTS.

1907.







1906. Increase. | Decrease.
COLON TO PANAMA.
Per cent. | Per cent.
Brom: News York tO samch LAanCISCO. cece. 2-2. 25. sec ee 26, 944 25, 914 Be Qe eee ane
From New York and New Orleans to Panama, South Pa-
citie, Central America, and Mexic0is.- 22.25.0222... ee 92, 902 75, 040 23. 80 nes aaee
From Europe to Panama, South Pacific, Central poses
Mexico, and San Francisco EI GPS as ag ae Tar eS 126,910 | 105,710 20205 sea ese
From Colon to Panama (loeal) :
Commercial freight: -.--....-- Sane: Sie eee 84, 529 43,159 | Ob Bos ee ee
Isthmian: Canal Commission... 2.22222. 271,046 | 137,129 O76 60g | Soe sec ee
Company-iveigiit es ee Poa 37,801 22,938 6480s ceecces cece
HO GRIE C ee ees os oes rere Oe ee eee emcee 640,182 | 409, 890 DO ek eles eee




32 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Exutpit L.—Statement of railroad freight tonnage handled, years ending June 30,

1907 and 1906—Continued.

1907. 1906. Increase. | Decrease.
PANAMA TO COLON:
Per cent. | Per cent.
HTOMm. San hrancisco-t0 New. Y OPK. << -2=. 302. - =. 3. ee L280 DAS OB Ts loess eae » 38.71
From South Pacific, Central America, Mexico, and Panama
GORNOWEYOL Keser es ee ae eS nee ees Oe See ee 49,075 48, 351 1 b02 | Seca eas
From South Pacific, Central America, Mexico, San Fran- :
GiSCO};;andPanama, tO -MWUTOPC.= 2 a ae ree oe ee 69, 557 58, 442 LO O23 eens aces
From Panama to Colon (local):
Commercialvireights<: = se SOS ae eet ine wate 27, 629 22, 339 23-08n| eee oe
isthmian: CanaleCommission=-=. Sos) 2 a eee 130, 947 81, 253 Gib ial eee oe
Compan yarershG as oe ee eee ee 3, 721 205 AGO: | Sree see 81.84
Total. Nee 2 ee 296,214 | 255,821 1570 ee
Total west bound and east bound...-..-....-.-.----- 936, 346 | 665, 711 | 40009 eae.



SECOND.—COUNTRIES OF ORIGIN AND DESTINATION.

COLON TO PANAMA.

MOreLanaM aes ee a eR ee ee erate te! ae 438, 696

Hon CentraloAmerican os Boe ee ee 59, 714
HOLS OUGO RE ACIICs ee ae ee ee eee eee 95, 209
MOM CaM ANCISCO ne aon ee See eee 30, 609
NOI MOKICOSS Ss ie ee ee oe ee 15, 904
DROP alee ee ees See eee reece ns 640, 132
PANAMA TO COLON
PELOMUM PANAMA an ye ea Seine Ne ameees Se eri eae 170, 084
HromeCentraleAIMerica 22. ase... ee oe oe ee 40, 286
HOM" GOULD: ROCHICs ss os 5 ey eee ee A ee 66, 741
REOM: SASH TANCISCO sca as ee eee Sen ce eee 16, 155
PET OT MOKIC Oss sere ne oe Un ae ee eee 2,948
PROUD eee ee Se a ee ee SE 296, 214
Total west bound and east bound....-....... See 936, 346





239,744 82:00 ee
61.454 ee = 2583
75,796 Ol
27, 164 (2°68 ee

5, 732 VieAGs
409, 890 H6sI7a a
137, 316 S03 864: ee

Alen7o eee | 3.1
49, 326 Bb Sit ee
Glo i ee 36.93

1,991 AR OT
255, 821 | 15570
665, 711 | A06b

Exursir M.—Statement of steamship statistics for the years ending June 30, 1907 and 1906.

FREIGHT TONNAGE
1907. 1906.

Increase. Decrease.

Ships. Tonnage Ships. Tonnage Ships. Tonnage Ships. Tonnage

“4 carried. carried.

Panama R. R. ships:



carried. carried.





ATT VCOS Ss ee 44 34, 863 38 36;0 (35 |e On lao er ele 1,810

Sailedk es ke 45 | 74,036 37 | 60, 799 Bo e303 7e le seen ae
Chartered passenger ships:

ATTIVOG sas Sess 30 24, 964 Dilee eo ng e e es | 6, 759

Salle dase ees eae 29 81, 007 28 69, 097 1 ll O1QS Sees sae ee

BOties Se Se 148 | 214,870 130 | 198,292 18 NG O83 |S ee
Total freight earnings....... $945, 172. 69 $848, 564. 29 $96; 608240. Sse as ee ee
Average rate per ton.......- 4. 40 AEDS ae eae fed ores Ae ees
PASSENGERS CARRIED.
1907. 1906. Increase. | Decrease.
‘ Passen- . Passen- . | Passen- < Passen-
Ships. gers. Ships. gers, Ships. | gers. Ships. gers,

Panama R. R. See s

Arrived... : So ee 44 BLOGs 38 2,477 6 O295 Es os ee aes

Salads: See es 45 4,202 37 3,144 8 Ll OD 8e ee eee ee
Chartered passenger ships: =

ATTriVeds == 3 eee 30 2,169 27 2,573 3 196 SS ees

Sailedie= ee 29 | 4,081 28 3,056 1 LO2bs Se ee ee

Mota 14g | 14,158 | 130 | 11,250 18 | 2,908 |. - =

Total passenger earnings....; $396,635. 41 $319,014. 62 $77 620170 — =
Average Tate per passeneetes |= 3a 20. OF eal 28 OU oc cae Secs $0. 35



28. 01 28. 36 aaa



/
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

33

Exutipit N.—Statement of locomotive and car equipment.



~

Stock on June 30, 1906

Destroyed during year
Reecived during year... 22 2)2 2s
Changed from another class.
Changed to another class. ...

Stock on June 380, 1907



Exuisir O.—Statement of floating equipment.

Name.

Steamship Allianca......
Steamship Advance......
Steamship Finance....... 2

Steamship Panama (chartered) .| 5,667
Steamship Colon (chartered) ....
’ Tug Bolivar, at Panama
Tug Cristobal, at Colon

4 freight lighters, at Panama..
1 wpe lighter, at Panama...._

eee ew em ww ee

ee

Do
3 coal lighters, at Panama

Gross
ton-
nage.

Length.) Breadth.

Depth.

Hull.

Loco- Passenger Freight i
motives cars. cars. _ Miscellaneous.

:
ax 45 3 .|O
eS q A] |]

jl] lag Eg gags
b | 4 | eS ©, | bp a} ral ISlialele
qa} ?].|8\|° gig Mele! Oo} .|/-1SlalEla].2
De eel airalics iro eas ONS elle Sem Se oie
md | OS les | 45 | fap) eo] —. - | IS! 6 bales a Olas |S ee) &
SES el Ss Be 8 SSIS isl sisisis) Sis lslgisisal2
Blnlnlal|a Qa] a S|HIA Bl SlGebla aA Amtamlals
AS) ol Slt 735 172 137 16} 1 12 2| 8| 9} dt 1} 110) 7
Sacer | oe | uate | rere ol ores ee = Oe Dipl Die DA ese a re | els rare
9| 10,.-| 4 455 12 Bl en || oD Seles Blea ia

Mee oe On| eee ea ea ‘ Seal Lh Oso OO alee lee = lee
DD eyes | ee ae | ak) z eee oboe |e |ne bene el
26} 33} 5} 17) 21 i 4i1, ia 4 21 4G 99) 2 6116 50|100 4 2| 2 2) 10). -



Passenger accom-
modation.

First | Second Steer-

1 floating pile driver, at Colon...|.. oie

6 freight petels, at Colon 6

a Standees as required.

H. Doc. 541, 60-1——3

Ft. in. Ft. in.
303 0 42 0
295 0 38 4
300 0 38 4
360 0 50 0
360 0 50 0
12-0 23 0
102 0 25-3
108 6 24 0
108 6 24 0
109 4 DYES AD)
109 8 224-0
109 8 24 0
107 0 DBF.
110 0 24 0
60 0 30 0
100 0 24 0

COmdoININNN
o>

ETON ee ee

class. | class. | age.
(0) | (a).
62 36 | (a)
66 36 | (a)
60 45 | (a)
78 58 | (@)

Jere r eee tle twee ce
ewer ne ee lorc nw aenenl|ow nance
wee ewe we elem wwe we
wee ee ww ele te oe
eee em eee ele ween we
ed er ee



_b Increase, 5 lighters since last report. _
34 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

SUPPLEMENTAL REPORT SHOWING THE RESULTS OF THE COM-
PANY’S OPERATIONS FROM JULY 1 TO OCTOBER 31, 1907.

[Presented in compliance with resolution of the ee of directors adopted at its meeting of August 12,
190 ;

EXxuisit P. —Income account and profit oe ios account for four months ending October

dl,
INCOME ACCOUNT.
Railroad:
Gross carnings irom Operation. sss sce... ee eee eee eee eee cccs $1, 466, 233. 12
OperabinSOxPONses =e Ss oe SSO a este See ee we owas eee 939, 303. 28
INetearnines from: Operation: soo os eat ee ine oe Oo te rice cee oe $526, 929. 84
Steamship line:
GLOSS COTNINeGSTrOM- OpPeratiON2c ee coho cte mee ee ook eee ceo ca es 520, 580. 18
Operating Ox PONnSes ss Sx See ee eS ee Se eae 584, 681. 35
Net-lossdromoperabionin 2 2 er eee ent eee US iene ss Senne eee a 64,101. 17
Add income from—
IMbESLESb ONESCCUMILICS OWNOdS ia So eae eos ers SSE eee 2, 520. 00
Imberest and exchange esse es ee ee ates Se rome ote 3, 504. 59
———— 6,024. 59
468, 853. 26
Less:
Interest on funded debt, first mortgage 44 per cent bonds—
Interest on $2,163, 000 J uly 1, 1907, to ‘September SOPLOO LS eee ee 24, 333. 75_
First mortgage sinking PULA ize ee Ee cece See oe ee tos 12, 500. 00>
Concessionary subsidy to United States Government under treaty..... 8, 333. 33
Interest on loanfrom United States Government for redemption of first
MOLCFAPO DONAS=. .. 2.5 a oe oe ee ose eens a cece 4,475. 77
Fund for repayment of loan from United States Government for redemp-
tiomol frst mortearye: bOnAsSss ss ee se ee Soe oe me scene 25,000. 00

Subsidy to Republic of Colombia, applied to—
Interest on subsidy bonds—340 bonds July 1 to October 31,

TOOT eee Sn Se ee aes Se ae eee ce See 800. 00
Redemption or subsidy ponds 222. s22 se ee eee 68, 200. 00
75,000. 00
Interest; ON JOAN stk See ee ee aS ee oe eee eek ree 22,981. 07-
“hentaloidocks and=machine shops=-s5os2.s.2 eee oe eee eee eee 8, 226. 68
—_—_— 180,850.60
Netinconie for:twelve MOnthSs: 2 2scc.6 coo see eco ee ee ee eee eae e piece tans 288,002. 66
PROFIT AND LOSS ACCOUNT.
By. balance to-credit- of profit-and Joss'Jume 30, 190752225. ose nc coe eee ce cle ee 6,281, 830. 76
Surplus from income account for four months ends October 31, 1907 ue ee ase Sete bees 288, 002. 66
Cost of repairs to two pontoons, damaged by U.S8S.8S.8. Concord at La Boca in February,
LO04 = TOCOVELEG ID DULY, LO0tsc cites ee eas eco ee se ate les oe Seeker cee see 949. 74
- 6, 570, 283. 16
Less sundry accounts written off......... Sab9035 590350 So50aCoud 5059 Sos conn Jeuddda a uens 47. 40
By balance to credit of profit and loss October 31, 1907...............-...........-- 6, 570, 235. 76

a Deficit.
Exuisir Q.—Balance sheet October 31, 1907.

Cost.orroad. real estate. and equipment..22) 222 a ee Hee
ihmprovement and ConsumMiclioMacCOUNTS.. --)2. ase eee
Floating equipment:

Steamers Allianca, Finance, and Advance. $596, 749.66

Add cost of installing refrigerating plants

on steamers Finance and Advance..... 34;315.07

ee

Pues anne SGOT eee

$631, 064. 73
290, 943. 80

ee Ota COST Op LOPOLbYysac soe. sk ee ee ee ee
Bonds in Treasury: Sixty-nine 6 per cent Panama Railroad Company
Sinkinoetundcsubsidiy cOORGdSes4se i) aes k ree ee ee a eS
On deposit with financial agentsfor redemption of bonds: 44 per cent
twenty-year 2Old DONS 222 G2 2 ays ee es ON CS OR ces 3
Advance oL subsidy, to Republic of Colombia —.--.2.. 2-22... 2 2k 2 _:
Redemption and retirement of outstanding first mortgage bonds...
Current assets:
Cashiinebanks and with agents: 2. 22e es $571, 105. 72

Coaland suppliestonenan dhs oan ve tee 983, 461.96
Due from CoOnneclineg COMpaAMles.-- 25) 222455. ees ee 239; 900. 91
Due from United States Government:
Isthmian Canal Commission......-.- $791, 070.64
Post-Office Department. . 2 --2 225... 83, 119.03
Navy Department. sa. 5. 32 Ses 1,575.63
————— 875,765.30
Due from companies and individuals.......-.-.-...- 100, 967.33
Miscellaneous sacCOuUntSs. 3-255 ee ee 1, 116, 148. 50
Unearned insurance and charter of steamers.......- 50, 831. 67
General average disbursements.......- Sens Se a 3, 178. 52

20, 423,050.71 |

$13, 723, 58Y. 16
1, 297, 735. 56

922, 008. 53

15, 943, 333.25

69, 000. 00
89, 413.80

340, 000. 00
39, 948.75

3, 941, 354.91



Capitalistock seers oe pen er aks Seneca dees pars samomias ata oe ae
4 per cent twenty-year sinking fund gold bonds (author-
ized issue, $4,000,000) :
Issue to date (4,000 bonds, less 1,261 bonds previously
redeemed) $2, 739, 000.00
Less redemption and retirement during October,
1907. : 2, 657, 000.00

Total capital stock and mortgage liabilities. 2..........-.-.-.---

6:per cent gold sinking fund subsidy bonds a2 22222222... 2520 22
Loan from United States Government for redemption of outstanding
fT Stem Orbea es WONG Siew Ne aie: a eee oe eee ee ce Ae eo ee Gee

Bonds drawn for redemption not presented for payment: 44 per cent

twenty-year cold bondss ae hak ee ee eral
Funds for redemption of bonds:

44 per cent twenty-year gold bonds...-.-...........- $88, 341.30

G percent sulbsidvabOnGS a9. .4s5-25 a eee ee 251, 875.00

Fund for repayment of loanfrom United States Government for re-
tINEMOEN EOL UIST MORELASC DOMES. oo ia see ei a oe aaa ee eee
HQuipment and plant replacement funds--: 21222 222i sk
Current liabilities:
Due to United States Government— '
Concessionary subsidy accrued....- $17, 708.33
Bills payable—for cash appropria-
ted through Isthmian Canal Com-

mission for new equipment and

LMPTOVEMONCS: - 2. ses ee se 1, 785, 999. 33
——_——— 1,803, 707.66
-Isthmus:drattsnotspresented 25.2522 2 05-33 cecee 718, 918.97
Couponsimot presented sae ees ls eee oe 592. 50
Accrued interest on bonds: 6 per cent subsidy bonds. 10, 200. 00
Audited vouchers and pay, rolls. s-2 22s s i ee 1, 004, 670. 98
‘Due COconnechine lines = soaks.) kaos aes Ree 27, 913.02
Miscellaneous ACCOUMUSS=— e242 2 te eee 121, 812. 63
WUmpaldwwases ois Soe ee ee ee oe ee 7, 839. 55

Interest on loans from United States Government
for redemption of first mortgage bonds..... eG ees 4,475.77



to credit of profit and loss.........- oe cb ene sses sco sesesnanceee

- $7,000, 000. 00

82, 000. 00

7, 082, 000.00

340, 000. 00
2, 148, 367. 50
1,072. 50

340, 216. 30

25, 000.00
216, 027.57

3, 700, 131.08
6, 570, 235. 76

20, 423, 050. 71

(
a Three hundred and forty 6 per cent gold sinking fund subsidy bonds of $1,000 each, amounting to $340,000, issued November 1, 1880, fall due November 1, 1910.
To meet this bonded indebtedness, $225,000 annually of the Colombian Government subsidy was pledged till March 27, 1908, the same to be applied by the company, first,
' to the payment of the interest, and second as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an amount equal

to the then surplus of the subsidy sinking fund, the drawn bonds to be paid on November 1, after each drawing and thereby redeeming the whole,issue in 1908.

«

‘ANVdGWOO CGVOUTIVE VINVNVd SYOLOWdIGd Gavod LdOduad

le
i

*

36 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Exuipir R.—Summary of earnings and expenses for four months ending October $1 ;





~ 1907 and 1906.
1907. 1906. Increase. | Decrease.
Railroad earnings: :

Colon to. Panama. o oo ss se ee $835, 635. 50 $567-330589 $268; 000. eos.
Panama GO: COlOn Ss sss vss ee oes 346, 829.07 224, 938. 69. 121 890538s| See
eMiscellancous=: Scc8 = eos ee 283, 768.55 171, 476.86 112 291. 69s aes es
Total railroad earnings -—.— 2.2. = 1, 466, 233. 12 963, 745.94 O02 487182 |e oe ese
Total railroad expenses...... Sao Se 939, 303.28 612, 616.59 32056865695 ees ceae

= Noiseatnines= = ot Se =

526, 929.84
Per cent of expenses to earnings........- 64.06

Steamship line:

SRO TMIECH EINE SS aoe ce PS eee $520, 580.18

OPA eXPONSES ss ose oe oe ee ene 584, 681.35
Net: 6a Tnin es ssc es Se oe a 64,101.17
Per cent of expenses to earnings.......- 112.31

Grand total earnings Kel eee ae
Grand volabexpenses= = =_ 325... es

Rolaknet: carnines.6 2s. ts. a

462, 828.67
Per cent of expenses to earnings.:......

76.70

351, 129.35
63.57

$1, 986,813.30 | $1, 476, 112.65

1, 528,984.63 | 1,064, 530.68

$512, 366.71
451,914.09

60, 452. 62
88.20

411, 581.97
7, 12



175, 800. 49
0.49

132, 767.26

$510, 700.65

51, 246.70
4.58



$8,213.47

459, 453.95





a Deficit due to increase of charter S. S. Dunottar Castle, $59,932.88; increase in extraordinary repairs
to deck and engine departments of steamers, $52,604.21; total, $112,537.09.

Exuipir S.—Statement of classified railroad earnings, tonnage, and_passengers, Colon to
Panama, for four months ending October 31, 1907 and 1906.





FREIGHT.
ae Rate per
Tonnage. - Warnings. ‘Ol
In-

1907. 1906. crease. 1907 1906. Increase. | 1907. | 1906.

THROUGH.
From New York.....| 42,053 | 34,544 7,509 | $140,692.49 | $122,084.92 | $18, 607.57 |$3. 35 | $3.53
From New Orleans...| 3, 697 1, 545 2, 152 13, 608. 61 5, 160. 45 8,448.16 | 3.68 | 3.34
HTOmM HUrOpe= .. 225 =. 52,915 | 40,119 | 12,796 184, 895. 16 138, 666.28 | 46,228.88 | 3.49 | 3.46
Ota ee 98,665 | 76,208 | 22, 457 339, 196. 26 265,911.65 | 78,284.61 | 3.44] 3. 49
LOCAL. a= oe | eo oe eee ee
Commercial: =<. 3 37,672 | 23,819 | 13,853 115, 785. 96. 82, 867.66 | 32,918.30 | 3.07 | 3.48

Isthmian Canal Com- :
PUMUSSTO Mess eee oes 143° 052: | -66;935 1-76, 117. 242, 553. 18 135, 874. 32 | 106, 678.86 |-1.69 | 2.03
Company freight ..... 13,141 | 10, 686 DAD Be | ee es Sse ee Scenes ene oo eegeces [eercrc
POtale2 so: 193, 865 | 101, 440 | 92, 425 358, 339. 14 218, 741.98 | 139, 597. 16 | 1.85 | 2.16
Total freight ...| 292,530 | 177,648 | 114, 882 697, 535. 40 484, 653. 63 212, 881. 77 | 2.38 | 2.73
7 : MAILS.
Weight (pounds). Earnings.
1907. 1906. | Increase.}| Decrease. 1907. 1906. Increase.| Decrease.
From New York... 429,000 | 384,000 4: 000s eee ees $30, 940. 26. $22,812.79 |$8, 127.47 |..........-
Krom Hurope:.:: =. 43,718 | 36,948 CSCO: See 3,286.30 | 3,046.02 AQ S28. eases 2
A OCH ee Bas ae 31,239 | 27,079 4 NGOs es es 2, 448.83 | 1,920.84 B21eOOS awe ce
Mo bales == 503,957 | 448,027 DDS 980s ee See 36, 675. 39-| 27,779.65 | 8,895.74 |...........
TREASURE.
Value. Earnings.
1907. 1906. | Increase. | Decrease.| 1907. | 1906. | 22- | De-

crease. |Crease.

From New York ..
From Europe......
Local, commercial -

$592, 246. 00
17, 200. 00

$90, 646. 001$501, 600. 00]... -
2,013, 551.00) 1, 446,913.00) 566, 638.00]. ._.-
164, 680. 00|......... . .|$147, 480. 00

2, 622, 997.00) 1, 702,239.00] 920,758. 00|....-

eee n es

89. 00

$1,533.93) $177. 35/$1, 356. 58|...._.-
5,995.17 4,381.21] 1,613.96). ____-

DAT. OO oer 5158. 02
4

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 37

Exurpir §.—Statement of classified railroad earnings, tonnage, and passengers, Colon to -
Panama, for four months ending October 31, 1907 and 1906—Continued.

EXPRESS. :
_ Weight (pounds). Harnings.
De- | De-
1907. 1906. ner ease. Grea. 1907. 1906. | Increase. Gronde:
Loeal:
Commercial....... AND 280 nize oe 405-280 ee $2, 454. 36 |..2-..-- . -|$2, 454. 36 -|...-....
‘Isthmian Canal ...|. 34,348 |........<. 34,348 |.......- 2025 ON eae ee ee 202. Ole oes 3
BO tals sss eae ABO SO28 el ae ee 439,628: |: ose. .%- EOD Dil, |e Fo
BAGGAGE.
Weight (pounds). as Earnings.
1907. 1906. |Increase.| Decrease. 1907. 1906. | Increase.| Decrease.
From New York... 24.725 Gl 405 ses oe 39,680 | $337.05 | $340.39 |.....-.-.. $3. 34
From Europe ....- 39, 687 DO OO (el eee ees 15, 920 QS HAS AD Ae ee ge 318. 40 -
OCH ao ee e 364, 509 Q71, 385 93 124s eee 7, 556. 55 4, 121. 69 (88, 434. 86.| 22.5 cca ss
ovale x 425,921 | 388, 397 OgO24T eee ee 8, 687. 34 | 5,574. 22 | SAGO |e eee

" PASSENGERS.

Number. Earnings.

1907. 1906. | 1a- | De- 1907. 1906. | Increase. | Decrease.

Crease. | Crease.



From New York:

First. class=. =: 1,040 L220 lee 180 | $2,800.54 | $4,692.88 |........_.- $1, 892. 34
Second class... 84 Sie lone ss 3 362. 26 SOLO elles eee es 19.11
From New Or- :
leans:
First class... Ae ores Bevan ete 262002 akan Sa O20: O02 eee ee
From Europe:
First class....- 282 D92e ee 10 1, 661. 19 LeTAO sO oe eee 85. 38
: pecone class= eel 154 JOR Se 724. 13 622. 06 10220 fe ee ee
ocal: :
First class....- 78, 083 44,334 | 33,749 |......-- 31; 992-702. 18- 000538. | 19 9928S Ta) ea
Second class... 132, 221 TAS MD | ONG ASO ee 38, 895.18 | 19,074.10 | 19,821.08 |.-<........
ROUAss = 211, 887 rs S597 E01F 028322. ee 82,462.00 | 44,517.31 He: 944.693 |2

Statement of classified railroad earnings, tonnage, and passengers, Panna to Colon, for |
four months ending October 31, 1907 and 1906. 3





FREIGHT.
Tonnage. | Earnings. Hevee
1907. | 1906. |Increase.| 1907. 1906. | Increase. | 1907. | 1906.
THROUGH.

TROENGW: OTK as 24, 348 | 18,613 5, 735 | $70,219.08 | $57, 424.09 | 12,794.99 |$2. 88 | $3.09

To New Orleans.......-. Oiler 2 Sal Ge ieee ee O: 1S se eel eee
(ROSH MUO DCs eee 21,270 14, 629 6, 641 69, 375. 79 46, 703. 21 | 22,672.58 | 3.26 3.19
TRO tale a ona 45,620 | 33, 242 12, 378 | 189, 603.05 | 104,127.30 | 35,475.75 | 3.06 | 3.13
LOCAL. ee ee

Commercial: :

La Boca-—Panama...... 5,219 | 4,964 255 | 2,612.78 2, 471. 31 “141. 47 . 50 . 50
Panama-—Colon......... 5,283 | 4,457 826 | 16,300.59 | 15,218.93 | 1,081.66 | 3.09 | 3.41
Isthmian Canal Commission| 45,672 | 26,176 19,496 | 90,349.11 | 52,309.44 | 38,039. 67 | 1.98 z 00
Company freight....-....-- 5, 766 | 1,062 CNY (0) Sed era a eee er oe ee ‘See alee
Motale ==. ee 61,940 | 36,659 | 25,281 | 109;262.48 | 69,999.68 | 39,262.80 | 1.76 | 1.91
Total freight........./107,560 | 69,901 | 37,659 | 248, 865.53 | 174, 126. 98 | 74,738.55 | 2.81 | 2.49


38 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

Siulement of classified railroad earnings, tonnage, and passengers, Panama to Colon, for
four months ending October $1, 1907 and 1906—Continued.







MAILS.
Weights (pounds). Earnings.
1907. | 1906. Increase. | Decrease. 1907. 1906. Increase. | Decrease.
To New York...... 49, 733 37, 856 11, Sie eS $2, 512.36 |$1, ee 84 S202 ee eae
RO HULrOpe x. sc os 1 143 DEAN OR Seton ce 1, 027: 97. 46 SOD aren $126. 46
Hocal ans: Seen 3 184; 1,381 1 S03. tenes Pees 407. 46 a8, 73 LOM See ees rs
otal 250 = 54, 060 | Al, A07) | 12,658 \--28 2. 3 O17, 28 | 2,348.49 | 678,79 |...
TREASURE.
Value. Earnings.
1907. | 1906 Increase. |Decrease.| 1907 | 1906 In- De-
: : : : : crease. | crease.
To New York..... $481, 004. 00; $580, 653. 00)-.--.....-- $99, 649. 00) $1, 865. 81) $2, 358. Sb soxsees $493.04 .
OeHUTOpes 2s. 5: 848, 623. 00 701, 435. 00|$147, 188. 00).......-.- 2, 971. 87 2 166;:73|) $805: 14|5 = = Soe
Local, commercial . 7, 386. 00 i 600. 00 5, 136500 |2 38 oays 18. 46 2. 40 16506 caaeeee
To taltes sees 1, 337, 013. 00)1, 283, 688.00) 53,325.00).......2..| 4,856.14) 4,527.98) 328.16)........
EXPRESS.
Weight (pounds). Earnings.
1907. 1906. | Increase.|; Decrease. 1907. 1906. Increase. | Decrease.
Loeal:
Commercial ---| -7386; 788 |2--.. -. 2. (BO 188 losses eee $4,309, 50: (S00. 236 ee 4, 009. 004|2.c8. o.oo.
Isthmian Canal} 80,672 |.......-..- 8056720 ers 454. 30c|2ec 35 os: ABS 30: eaceee coe.
MOotaleesce.s SI PAGOE Sees SUZ; AGOS aoe eae A 193%80: |eessse acs 41930802| Se aoe ees
~ BAGGAGE.
Weight (pounds). Earnings.
1907. | 1906. |Increase.| Decrease.| 1907. 1906. | Increase.| Decrease.
Se
To New York..... 3, 156 | TAT eee 4,315 $565605| ol4/s0a ees ee $90. 40
PROPEL O PCe reise oa ree Sete aes feraos ape | nee eee | oa eine reco seer ae eee a ean cae ee elie ici seis seni
HOC ONE Ee es Sess 301,591 | 282, 113 GOR4A1S: eee 6, 105. 85 | 4,996.30 |$1, 109.55 |...........
——Motal.. =. 304, 747 | 239, 584 GovlO3 see ee GrllG2- ASE ep 4ASeSS7 el OLO hale ee ee
PASSENGERS.
Number. Earnings.
1907. 1906. | Increase.| Decrease. 1907. 1906. Increase. | Decrease.
To New York: :
First class...- 167 196s Bee ee 29 $969.35 | $1,181.00 |........... $211.65
Second class. - 239 DOSa ee eee 29 1 O49 .622 eal loss lQiis See eee 103.50
To Europe:
First class. . 329 261 OSes aa 1,900.39 | 1,466.41 $433 98ic| ees aes
. cecond class... 13 30 AG see ee 310. 50 130. 50 180500; eee
ocal:
First class....| 74,232 | 41,867 32, OOD ee oe eee 36,631.49 | 16,761.87 | 19,869.62 |...........
Second class..| 127,128 | 67,293:| 59,835 |....- See ee 38, 272.49 | 18,104.01 | 20,168.48 |...........

‘Motal-. 02, 168 | 1007015 | 92058 |. = 79,188.84 | 38,796.91 |. 40,886.03 |...
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. a

Exutisit T.—Statement of steamship statistics for four months ending October 31, 1907

Panama R. R. ships:

ATRL V OG 26 oe owe eee
Dall eine is oe eset
' Chartered passenger ships:

NITIV OC oe Sone nce ea
Salled secs ss Soe eee

Total freight earnings.......
Average rate per ton........

Panama R. R. ships:

ATTIVEG Seasonic sen eens es
Sailedss.2 ee ee
Chartered passenger ships:
ATTIVOCG Sooke woes Saeco
Salles sss ee ce

Total passenger earnings....
Average rate per passenger . .|:

and 1906.

FREIGHT TONNAGE.

Increase.

Ships. Tonnage

Decrease.

Ships. | Lonnage

carried.

ey | ees tener || ey fees | ey ees) fren



1907. 1906.

. Tonnage ‘ Tonnage
Ships. carried. Ships. carried.
9 2a! 15 10, 947

i“ 12,114 15 23, 053

13 12, 739 10 8, 049

15 38, 873 10 24, 398

44| 70,957 50 | 66,447
$302, 927. 92 $293, 141. 57

4. 27 4, 41

PASSENGERS CARRIED.





carried.

3 4,690

5 14, 475

ce es ees 4,510

$9, 786. 35 |
Increase.

ships. | Passe
3 901

5 400

Decrease.

Ships. Passen-



| OO > SO eS OO ::???”0Ohns)D re > ss |

1907. 1906.

ee lop e

Ships. ee Ships. Borat
9 654 16 1136
7 602 15 1, 625
13| 1,786 10 885
15| 2,386 10| 1,986
44| 5,428 50| 5,631
$137, 126. 10 $150, 414. 83

25. 26 26. 71

O

ese eae ee ceeee ee ee ©

gers.
6 481
8 1, 028
6a
$13, 288, 73
1. 45-
ee

etre
aes

ein
ees eRe
Sas Zee Ss

Be












- : .

ae ee (DOCUMENT
7 ee \ No. 632





60TH CONGRESS ) oe
2d Session 5 | .



OF THE BOARD OF DIRECTORS OF

‘















FOR
ENDED 30
MESSAGE FROM THE PRESIDI , OF THE UNITED

FIFTY-NINTH AN-

‘3

NUAL REPORT OF THE BO
OF THE PANAMA RAILROA:



LETTER OF TRANSMITTAL,

To the Senate and House of Representatives:

I transmit herewith for the consideration of the Congress the fifty-
ninth annual report of the board of directors of the Panama Railroad
Company for the fiscal year ended June 30, 1908. |

Daponorn ILOOSEVELT.

Tue Wurre House, January 5, 1909.
3


PANAMA RAILROAD COMPANY.

BOARD OF DIRECTORS.



GrorGE W. GorrHats. | Morpercal T. ENpIcortT. H. H. Roussgau.

J. C.S. BLACKBURN. D. DuB. GAILLARD. RicHAaArD REID RoGeERs.

H. A. DRAKE. W. C. Goreas.¢ JACKSON SMITH.@

CLARENCE R. Epwarps. 4H. F. Hopaus. W. L. SIEBERT.

OswaLp H. Ernst.

OFFICERS.

GEORGE W. GOETHALS, president.............- PA AR ee Culebra.

Bea DRAKE, vice-president: == 0 ee New York.

Hiram J. SLIFER, assistant to president and general manager.........-.- Colony.

J. A. Sirs, superintendent Bes aS ee ee Colon. a

SYLVESTER DEMING, ERCOSULCH Ss Soo es See ers New York, 33

fo INOSSBOTTOM, SeChelahy © 9502s Ses New York, —
JOHN: ADAMS, QUCIUORo Ae oes ee co a ho ieee New York.
ps. STUNTZ, LoCo autores ee ee .- Colon. oe

ER: Hopezs, Perera’ purchasing Olicer 2. a New York. —

he GUN ORDSIEK, assistant purchasing and shipping officer-...-..-......- New York. —

ROLAND ALLWoRK, INSPECGLING CNOIMCCh= aso) ke New York.

P. G. BAKER, master mechanic) Pn eros es ae Colon,

R. Bupp, chief CNSUMCCR es te see ee ee a ee sees oh Colon:

Hf BAwoen, terminalsuperintendent..2.22.. 2.22.2. ee. .. New York.

RICHARD HID ROGERS, weneral counsel). --2...2....2222..,.2...2...... New Mors

GENERAL OFFICES.—24 State street, New York.

a Retired September 21, 1908; F. 6. Boggs aad E. T. Wilson elected by the hoa
on September 21, 1908.
4


ANNUAL REPORT OF BOARD OF DIRECTORS OF PANAMA RAIL-
ROAD COMPANY, 1908,

Panama RaILROAD COMPANY,
New York, N. Y., November 7, 1908.

t 0 the Stockholders of the Panama Palio Cn

I respectfully submit for your consideration a report of the com-
pany’s financial condition and operations for the twelve months from
July 1, 1907, to June 30, 1908.
~ Teall attention to the accompanying exhibits, showing income and
profit and loss account, general balance sheet, and statistical tables,
which will give you detailed information upon ne financial aspects
of the company: s business.

- @apital stocl< issue (unchaneed)..:2... 42) 9 a ee $7, 000, 000. 00
The only. outstanding bond issue June 30, HS was:

Sinking fund 6 per cent subsidy bonds:
Original i issue of (for payment in advance of the annual subsidy of

$9.25, 000 to the Republic of Panama) es Or Ore Sere Na $3, 000, 000. 00.
Redeemed by annual sinking fund drawings..-..- PER) Re - 2,865, 000. 00 .
Oiemiding = _ 185, 000. 00

Of these outstanding 36 were purchased out of earnings and are
owned by the company.....-....2- ee ss eee : 36, 000. 00
Leaving in the hands of the ae se as ne 99, 000. 00

Through the operation of the sinking fund, all of these outstanding
bonds were drawn for redemption on November 1, and the balance of
the subsidy for 1908 up to $225,000 will be due and payable to the
United States Government, as the legatee by treaty with the Republic
of Panama, dated December 2, 1908, of the financial benefits of the
company’s contract of copcession.
As the company was not relieved by that treaty from payment of
_ the annual subsidy covered by Article III of its contract of concession,
_made in 1867, the monthly indebtedness on that account, as it accrues,
_will be set aside for payment to, or as directed by the United States
_ Government, owner of the company's property.
|. Upon payment of the 135 bonds drawn for redemption on Novem-
_ber 1, 1908, the entire original issue of the company’s sinking fund 6
per cent subsidy bonds, amounting to $3,000,000, will have been
redeemed. By the retirement of the subsidy ‘bonds following the .
_tedemption on October 1, 1907, of the then outstanding balance of
the authorized issue of the company’ s first-mortgage 43 per cent
twenty-year gold bonds by means of an appropriation by Congress
_ tor that purpose, ail of the company’s bonded indebtedness will have
been canceled.












6 REPORT OF THE PANAMA RAILROAD COMPANY.

Notwithstanding that by the redemption of its first-mortgage —
bonds the company was relieved from the payment of interest thereon
at the rate of 44 per cent and there was no obligation imposed upon it
by congressional enactment to pay any interest on the above-men-
tioned appropriation, the company has undertaken to liquidate the
amount advanced by the establishment of a sinking fund through
which payments of $100,000 per annum are to be made to the United
States Government.

The company’s operations for the period. covered by this report
show that, after the payment of the total cost of operation and of all
fixed charges, there remain net earnings of $1,028,856.72, which, in
addition to advances for the same purpose made by the United States
Government to the company, have been applied to improvements and
new construction, the total expenditures for which account amounted,
during the fiscal year as shown by Exhibit F, to $971,981.63.

The sum thus advanced during the fiscal year by the United States
Government, in addition to the $1,197,892.77 referred to in the annual
report for the fiscal year ending June 30, 1907, amounted to
$2,734,371.47, of which $2,148,217.50 was applied to the redemption
of 44 per cent bonds, and the balance, $586,153.97 to new construc-
tion, equipment, and improvements. :

At the annual election held in April, 1908, Director Peter C. Hains
retired and was replaced by Col. H. F. Hodges; Mr. EH. A. Drake was
reelected vice-president of the company; Mr. Richard Reid Rogers,
general counsel; and Mr. H. J. Slifer was appointed general manager
on the Isthmus and assistant to the president there, replacing Mr.
_W.G. Bierd, retired.
Respectfully submitted.

es GEORGE W. GoETHALS, President.

PANAMA RAILROAD COMPANY,
: New York, November 2, 1908.
Col. Gro. W. GoETHALS, )
President Panama Railroad Company, |
New York, Ne

Dear Sir: I beg respectfully to submit herewith the financial
exhibits and results of the company’s operation for the twelve
months from July 1, 1907, to June 30, 1908, with statistical tables
and accompanying explanatory comments thereon for your consider-
ation in connection with your annual report to the company’s
stockholders. 3 |
Gross revenue receipts, expenditures, and net earnings for twelve
- months ending June 30, 1908, compare, as under, with those of the
twelve months ending June 30, 1907:



i P

Increase (-+-) or





1907. : 1908. decrease (—),

1908.
/ Beaming; 8 $5,190 810001 -85.099,000 07,1 es00 Ist 38
Operating expenses........-. EPs Sails Sere 3, 610,874.50 | 4,469, 507. 71 | + 858, 633. 41



Earnings over operating expenses...-..-------.-- | 1, 588, 936. 39 ! 1, 580, 484. 36 | — $8, 452. 03






Ve
}
i

REPORT OF THE. PANAMA RAILROAD COMPANY. i
EARNINGS.
RAILROAD.

_ The total earnings of the railroad for the transportation jof all ama
of traffic show an increase of $902,537.58, or 24.80 per cent jover
twelve months of previous year. Of this increase in revenue, $453,-
513.91 was derived from merchandise and coal freight, westbound
business showing an increase of $461,746.59, while there was a falling
off of $8,232.68 in eastbound business. Passenger earnings increased
$200,270.57 and mail earnings show an increase of $15, 785.55.

Freight traffic from New York and New Orleans to South Pacific
ports increased 4,662 tons; to Panama 2,348 tons, while traffic to
Central America and Mexico shows a decrease of 6,104 tons. From
Kurope to Central America and Mexico there was a ‘decrease of 3 365.
tons, and to South Pacific ports an increase of 19,938 tons.

Traffic from Central America and Mexico to Europe increased
18,407 tons and from South Pacific ports to Hurope there was an
increase of 3,208 tons.

The following table shows the freight tonnage carried over the
railroad for twelve months ending June 30, 1908, including company
freight, as compared with the twelve months ending June 30, 1907:

| [Ton of 2,000 pounds, or 40 cubic feet. |







| Twelve months end-





ing June 30—
NS AN eae _ Inerease.
| 1908 a 1907.
a a ee Se Se
}
; Tons. | Tons. | Per cent.
GCarriediwesthound s4o tsk s ee ee ee 880, 301 640, 132 | 37. 52
Carried eastbound] fos 22 2 eros o eer ees eee 304, 348 296, 214 | 2.75



Totalawest: and: cast-b OUN Gass. a ee ye ee fu 1, 184, 649 te 936, a 2 26.52

The gross earnings per ton moved on the road compare as follows: -

Twelve months
ending June 30—







[ee kOe _| Decrease.
_ 1908. | 1907.
oe a ame
|
Per cent.
NAV (ISIE OO] NaK0 le eee ae eee Bn ere eee te Ces Oe ee Ee Se0 45 $2.71 9.59
ASTI OUI ee Se Sr eee aera one A eRe pare | Dane 2,58 39
Average west and east bound.........- yearn a aR eS pee: | 2.48 2.67 Uae
|



Exhibit L, accompanying this report, shows the origin and desti-
nation of the freight carried over the railroad.

The total revenue freight traffic of the railroad during the twelve
months ending June 30, “including both merchandise and coal, was
1,144,919 tons, an increase of 250,095 tons, or 27.95 per cent. The
total revenue derived from this traffic was 2 842 840.98, an increase
of $453,513.91, or 18.98 per cent.

In addition to the above traffic, 39,730 tons of company’s freight
and 2,107 tons of mails and excess baggage were hauled.
8 REPORT OF THE PANAMA RAILROAD COMPANY.

Of the total freight tonnage carried, 74.31 per cent was westbound
and 25.69 per cent eastbound. In 1907 the percentages were 68.36
and 31.64 per cent, respectively. |

The through traflic was 35.50 per cent of the total tonnage handled,
as against 40.66 per cent for twelve months ending June 30, 1907.

Coal Gncluding company’s) comprised 54.25 per cent of the local
traffic westbound. |

The following statements show the number of passengers carried
and the passenger earnings:

NUMBER OF PASSENGERS CARRIED.









Classification. 1908. | 1907. | Increase.
| Per cent.
ITS TCLASS ASSEN OOTS 6 ae lair pas ee Mes hee MES Ie | 479, 586 | 325, 077 | 47. 53
Specnd-classipassemoers (ee ee ee | 906, 059 | 557, 200 | 62. 61
gierens | PSNR BE ES GE ont ra | eo pebsaies
EL OLE e SP SO Ue Sie sie reer ea a ieee Cee eee Se a | 1, 885, 645 882,277 | 57. 05
PASSENGER EARNINGS
First-class passengers.............. fe OS UO ae ee as Py, | $267,997.31 | $165, 194. 52 | 62. 23
Secondeclass Passeneers 2c 5 ee ee | 258, 849. 55 161, 381. 77 | 60. 40
Mota os OI ee ee | 526,846.86 | 326, 576. 29 | 61. 32
|
AVERAGE RECEIPT PER PASSENGER.
oe SIRE 2 ee a initio
First-class passengers:
Mhrough +2 Se ae Seg ae a ae Sea eee hel ek eee Ur — $4. 54 | $4. 13 9.92
Lecal. Niger cea wena Nat cr me Wane eat Nope a Aum Eae Bearers a ero: | . 44 18. 18
Second class passengers: |
UR gh Ges f 2a Oia Na Re ec sana a Oak a tReet e, 2m Sa aoa eo eed 4.27 4.24 | oalel
8 | RDG earn erate
|

Bee eee Se een ONG 2 aha teas esi ree gers Gees erro eee I ue

_ The gross revenue from the transportation of passengers was
$526,846.86, an increase of $200,270.57, or 61.382 per cent, while the
number of passengers carried shows an increase of 503,368, or 57.05
per cent. ee |

The revenue received from through passengers shows a decrease of
$4,879.54, or 15.61 per cent, and the number of passengers a decrease
of 1,634, or 21.70 per cent, as compared with the twelve months
ending June 30, 1907.

Local passengers show an increase of $205,150.11 in revenue, or
69.47 per cent, and 505,002 in number carried, or 57.78 per cent.

MISCELLANEOUS RAILROAD RECEIPTS.

The total receipts of the several accounts grouped together under
this heading amounted to $946,647.78, an increase of $192,557.58,
or 25.54 per cent, over twelve months ending June 30, 1907.

The receipts for wharfage at Panama and La Boca and lighterage
of cargo in Panama Bay, which are included above, show an increase
of $65,637.75. |
| | STEAMSHIP LINE.

The total earnings of the company’s steamship line were $1,458,-
504.28, a decrease of $102,356.20, or 6.56 per cent, as compared with ©
the twelve months ending June 30, 1907.
REPORT OF THE PANAMA RAILROAD COMPANY. o

Freight trafic decreased 14,823 tons, or 6.90 per cent, and the
revenue therefrom shows a decrease of $79,915.13, or 8.46 per cent.

Passengers show a decrease of 342 in number carried, or 2.42 per
cent, and a decrease in earnings of $33,576.27, or 8.51 per cent. |

The increase in revenue from the transportation of mails was
$7,398.65, or 3.85 per cent.

Of the total tonnage transported 83,353 tons were carried by the
company’s steamers and 16 ,694 tons by chartered steamers. In the
twelve months ending June 30, 1907, the former | carried 108,899 tons
and the latter 105,971 tons. : :

EXPENDITURES.

The operating expenses for the twelve months ending June 30,
1908 and 1907, compare as under.













:
| 1908. | 1907. Increase.
Ss Coe 2 ee ween s ee sin ae pos
Rauboads. | Cases a ee ee | $2,831,142.76 | $2,208, 526. 7 il $622, G15. 99
Seams DIG ote SO es Ua OE a eee eee cd als (38, 364. 95 i 402,347. & :



Total ie Se ae ass a 4, 469, 507.71 oo 858, 633. 41



This table shows an increase of $858,633.41 in total operating
expenses, while there was an increase in total earinnes of $800,181.38.
(See pp. 6 and 7.)

RAILROAD.

The following data, relating to operations on the Isthmus, is sup-
pied by Mr. H. J. Slifer, general manager:

CONDUCTING TRANSPORTATION.

The expenses of this department increased $256,086.16, or 25.39
per cent, over the last fiscal year; freight tonnage handled shows
an increase of 248,303 tons, or 26.52 per cent, while the mileage of -
this tonnage increased 9,150,879 ton-miles, or 24.87 per cent. :

The increase in the cost of conducting transportation is due to
two causes:

First, increased ton-milea ge of ireight. In 1908 tons revenue and
company freight carried 1 mile was $45,936,204, whereas in 1907 it
was $36,785,325, an increase of $9,150 879. |

This naturally increased the freight-car mileage from 3,444,971
miles to 4,080,479, or an increase of 17 per cent, and the result is
shown in the increased gross revenue, amounting to about 24 per
cent. This increased ton-mileage, which in turn brought about
increased car mileage, naturally increased the freight-train mileage
9.96 per cent, necessitating the employment of more forces, the
consumption of more fuel, which during the year 1908 was charged
out at an increased valuation of about 10 per cent, and in a general
way increasing all of the expenses of the operating department.
Some of the increase was offset by reductions in the tonnage per
train and per car, statistics for which are shown in Exhibit I.

Second, new rules which were made during the past fiscal year,
under which our employees were granted an increase in pay due to
longevity, and also by the rules which - were promulgated to dispense °

~
10 REPORT OF THE PANAMA RAILROAD COMPANY.

with the accumulation of vacation time. These two increases alone
represent 11.10 per cent increase in our pay roll. |

The following statement gives the number of trains handled during
the year ending June 30, 1908, and also a comparison between the
months of June, 1908 and 1907.





































| |
| | 7 a
| Panama Railroad trains. | pe Cn
sO [SO ee oe ee ey ee ee oe en Grand
Direction. | | | i 7 Hotal:
os Work. | Total. | Special. | Work. Total.
BUSES eet Se 6 eS eee Nae a f-
INOTUMD OUI ise re er ae Ge i 5018 890 | 6,808 | 42 | 32,904 | 32,946 | 39,754
SOUDMDOUN Ga see Sa ee eG ae | 6,359 © 889 | 7,248 | 66 | 31,181 31,247 | 38, 495
Total year ending June 30, 1908.....- L2H, | 1,779 | 14,056 | 108 | 64,085 64,193 | 78,249
Average Number per: day. 3-8 sees es | 33. 6) BO 38.014) Qos W(S20 1 76.9.1) 21a
dune; 100ee beer it ss | 6 ase aor | Brod
pe LOO tie eA eee Se 1,100 3 184 |. 1,284) 8 2,082, 2,890; 3,874
DECTCASC ALTAINS aris ee a ee | 221 | 30 Bolas — 2)41.903 : a1. 901 | a1. 650
Mecreases per CON ts ee ee ee 20:09 | 16.30} 19.55 | 25.00 473.70 473.40 | @ 42.59
Average decrease per day in June, 1908, | |
OVE JUNE 90 (ctralnS 2 eo ee es | 14 105| $24) .07 | 468.4 ° @63.4 a@ 50.0



Pee ae ee Se | | Sores ie

a Denotes increase.

NotE.—The largest number of trains passing through any one blockin eight hours was 240, by Pedro
Miguel, but as many as 293 train movements have been made in the same period by one point (Mira
Flores).

MAINTENANCE OF EQUIPMENT.

The expenses of this department show an increase of $49,714.01, or
14.93 per cent. A very large portion of this increase is due to the
inaintenance of additional equipment purchased during the previous
year, viz, 24 locomotives, 23 passenger coaches, 500 box cars. We
have equipped a number of the best of the smaller cars with auto-
matic couplers for safer operation in trains, entailing certain increased
expenditures, but the old equipment is being gradually destroyed as
being unsafe, and in accordance with policy previously adopted. :

When the Secretary of War authorized certain increases of pay due
to longevity service, effective July 1, 1907, it immediately increased
our shop pay roll about 3 per cent. re

The action of the commission in deciding that vacation pay would
not be accumulative, caused our forces to immediately take up their
vacations, and our pay roll on this account increased 166 per cent, or
from $4,216.45 to $11,253.85. In future years these vacation pay-
ments will naturally be less and more nearly on an equality.

The following new equipment has been received, erected complete,
and placed in service: Two first-class coaches, length 68 feet; 8 sec-
oo coaches, length 68 feet; 2 baggage and mail cars, length 68
eet. :

At the shops of the railroad company there have also been erected
for the Isthmian Canal Commission: |

Ey abCeSuCel Gn Cals. Sk 500
Western dump cars, 80,000 pounds capacity, completing order of 300............ 164
p 0 Non wooden fabcars: 8 ee 300
Bay, Uniyapile drivers 5.000 os oe Z,
Model 20;ton Marion steelshovel «9 8520 5 oe 1
Mamchcspreadetses | ee See ee ee 10
4-yard narrow-gauge dump cars. ...-.-.-.-.---- Oe pe ee ee ee 30
POstOMe DAV. OLUVAChaNCh ee ee a +
WA AtOM. TOW M@sCramnes: 2. 9 es 3

LQ bon Daye G@lly, CLaNGR ee ee 2
° REPORT OF THE PANAMA RAILROAD COMPANY. dk

MAINTENANCE OF WAY AND STRUCTURES.

The total expenses have increased $138,143.89 over 1907, or 31. 33
per cent, due principally to large forces necessary to keep up new tracks
on fills and to heavy rail, tie and switch renewals. The coming
year will show a decrease in maintenance expense because physical
conditions are excellent and the second main track embankment has
had most of its settlement.

Track department.—The second main line has been completed and
is now in use between milepost 74 and milepost 364, milepost 404,
and milepost 464, and 1 mile of the La Boca branch, a total of 352
miles of double main track.

During the year 45,000 ties, 52,000 cubic yards of gravel, and
25,000 cubic yards of crushed rock have been used.

New side, house, and commissary tracks laid with 70-pound steel
have been constructed as follows:

















Sidetracks. | House tracks. | - Commissary Total.
: | acks
Location. Jv aa ae eas Bl a Se i eC a Le Sree 7G
| No. | Length. No. | ee No. a Length, No. | Length.
as | ae a SBS Ve Dee
| | !
| Feet | Feet. | Feet | Feet.
MUOTCA NECLO One es eee [eioe Sapna ee ates ela OTT es ee coe aa gene les 911
ETO LOS soe eee EN ee as | 12] PASO aie tees ee coe iio ata ieee te 23
PSam Pablo 6 oe 1, 202 | fete is ese oe ee Laie e208
GOES ORE ae ee ee Sen oe se ae | 1 | EADO ee [Nearer cree le enos cpio bee 1} 1, 450
Tas: Cascadas: sis oes ae es [Soe e [Sees ee (eee eee 1 | 1,100 1 1, 100
CUS eye es at oe Re eras Mier Pes ee pee ea ' ra [255] 1 590 | 2 1,315
PedrogMigiieloe ei ss ei ae ee [apes eeereani eee Rea he eau ee ihe Od | 1 515
Mina Oreste Sls Sues, SRE ae sea He Sea ee ee jester is Oe ote Negue on ee 1 | 1, 120
ovale chen. seins: Stee pe ae se oa ea 4008 2 86 3 a 2,265) ~ 91 47,909







a Pincade: 1,500 feet puilt dunine | 1907 at ie San Pablo, and Goreeun

At Mount Hope a material yard containing 12,210 feet of track
was laid for facilitating the handling of material at the Isthmian
Canal Commission material and store yard. The cost of this work
oe borne by the Isthmian Canal Commission, for whose use it was
Ut.

At Colon a temporary coach yard was taken up and a permanent
one containing 1,725 feet of track built. The old terminal has also
been removed and the eround filled in for quarters. This provides
fifty of the choicest building lots in Colon, lying along the beach
between the church and the hospital.

The old Panama yard has been entirely remodeled in order to
accommodate increased passenger business and facilitate the handling
of freight. As now being built, the yard consists of an 8-track
diamond 1,300 feet long, a terminal yard consisting of new turntable,
engine house, water station, cinder pit, and machine shop on one side
of the diamond, and 4 industry tracks on the other side, a 4-track
passenger yard and 3 pairs of team and freight-house tr: acks 700 feet
long. The team tracks and freight house are located alongside a
new street that has been opened from the end of Balboa avenue at
Sixteenth street to the passenger depot. The work necessitated laying
the following amount of track: |

Feet.
New 70 pound sted 2 7, 740
S: El 70-poumd steel. 11, 510

SoG SOpound steel SS ee ee 3, 450
©)

12 REHPORT OF THE PANAMA RAILROAD COMPANY.

Work is 90 per cent ceEnplote.

Owing to the heavy dirt-train traffic between Las Cascadas and
Tabernilla, it has been necessary to replace the 70-pound steel on
curves and short tangents on this part of the line with 90-pound rail,

using continuous rail joints. Details follow:

Miles of track relaid:



ee

SOU bounds Nk eee ae eae miles
North bounds eee ee ee ee dos 9°26
Crossovers relards (NO. 10ers do: 2 12
Turn-outs relaid:
INO OP Se a Oi ee co el cee a a ee doz2.732
INO fe ee ee es es dors 2
ROUAECOSE: Te W. IMMaberiaieme ase Se ee b122, 589. 40
Vole SE matenal necovered ee 51, 155. 82
Net:cost-ofmaternalie ioe Mg ee 71, 433. 58
Motal labor COSh ne a i ee 30, 712. 56
Moral cost 5 102, 146. 14
This was an Isthmian Canal Commission charge. 7
The following changes have been made in the main line:
Juan Grande cut-off. |
Length, milepost 274 to 208 De ae a ae feet 3, 300
Saving j TM” CIS DANN Om ee Be ee es a do. 748. 5
| Saving AT CUPVENGUT CU GON ee Re ee ee 104° 347
Molec ee eee ees $30, 414. 44
Paraiso canal crossing.
toh MoulepOst S07 L005 5 2 eos ee feet 6, 600
Increase in distance. pers ee ee do. | 393
Pe Sinenease IM CURVAUUTOR TES o eee ne Se isl ae ea Loe 2o4
BE lOpal COst. Ss 8 ee er $54, 039. 65

‘This new canal. crossing was necessary because the old line passed

through the Pedro Miguel lock site.

Paraiso line changes were in the interests of canal construction and
were paid for by the Isthmian Canal Commission.

Besides these two line changes, the grade was raised on old align-
ment at Rio Grande Reservoir, Barbacoas, and between Tiger and
Lion hills, as follows:

Rio Grande Reservowr, October, 1907.—Grade raised 3 feet at bridge
56, which spans the spillway. Average raise of single track for 2,500
feet was 1.3 feet. Purpose was to increase capacity of reservoir.
Total cost, $1,874.40, borne by Isthmian Canal Commission.

Barbacoas, February, 1908.—Grade raised 2.4 feet at bridge 44
Average raise of double track for 2,600 feet was 2 feet. Purpose was
to give better clearance for extension flat cars loaded with excavated
material from Culebra Cut. Total cost, $5,099.60, borne by Isthmian
Canal Commission. cv |

Tiger Hill, May, 1908.—Grade raised 4 feet at bridges 25 and 26.
Average raise of double track for 3,000 feet was 3 feet. Purpose was
to prevent tracks being flooded by backwater due to canal operations
at Gatun Dam. Total a $6,100, borne by Isthmian Canal
_ Commission.

The tonnage of trains was not affected by any of the above erade
changes.

‘Both the Juan Grande and ~
REPORT OF THE PANAMA RAILROAD COMPANY. tS

The track across the Black Swamp near Ahorea Lagarto has always —
eaused trouble in the wet season by settling; but in July, 1907, under
the increased number and weight of trains and the additional weight
of the fill for second track, this settlement became rapidly worse, and
finally, at noon on July 30, 300 feet of double track embankment and
both tracks settled about 12 feet. Two pile drivers were used to drive
a trestle across the break and traffic was resumed on the morning of
August 1, forty-two hours after the trouble occurred. On September
20, 200 feet more of the swamp settled in the same way and was
sunilarly replaced with trestle after forty hours’ interruption to trafic.

In view of the proposed abandonment of the present line across the
Black Swamp in about two years, traffic will be carried on by use of
the trestle in the meantime. |

Bridge building and dock department.—Twenty-eight bridges with a
total length of 2,763 lineal feet have been built as follows:

New main-line bridges built from July 1, 1907, to July 1, 1908.



















Y | : | §
B ules | Location. | Length. | s Re Trestle. | Reason pull
Feet. | Linear feet.
LOS GAM cee eee 45 | 2 £0 | Replace bridge 13, blocked by Gatun dam-
Lelie tes GOs2 See: et 163 |: 1 163 | Second main track.
25 | Wiger Wilk... ae 2 56
26 do { 24 \ 9 5G | Raising track above backwater due to Isth=
Is ae |g A MSE ee eat aN 32 van Canal Commission work on Gatun
” | 24 am.
Dla eet GOS eta os { 39 \ 2 56 |
1 ‘
28 | Black Swamp...-. { ee ji 2 1,070 | Replaces fill which settled in swamp.
49 | Juan Grande....-. 118}. 2 236 | Juan Grande cut-off.
AQF GOLeOna ee 17 2 34 | Replace culvert blocked by Isthmian Canal
| Commission dump.
003) Bas Obispo. =.=. -- 105 | 2 210 | Isthmian Canal Commission diversion of
Obispo River. :
O1S) Miratlores =: 22222 -: 16 |, 2 32 | To drain water blocked by Isthmian Canal
Commission dump.
625) @Onozaly= 2 s 16 2 48 | To drain swamp for sanitary department,
Isthmian Canal Commission.
POUL A anaes ea 21 2, 051
Other bridges and trestles built July 1, 1907, to July 1, 1908.
Bridge Location. Length. Reason built.
No. :
Feet.
Hoses CUO DEA cis as si A eae as 75 | For Isthmian Canal Commission dump opposite Lirio
planing mill.
Gece CONOZA es ee ee 16 | For Isthmian Canal Commission third track.
G8iaikaee COs Ree Sees ae 16 Do.
aD) OC Keel Aiea Sees oe ee ee 150 | To place a track along front side of dock.
Cold storage (Cristobal) ..... 285 | For elevated loading track.
a Bocae eee eae 170 | Two main-line bridges on La Boca Branch, across Isth-
, mian Canal Commission drainage channel.
Total (7 bridges)....... 712

Bridge 44 across the Chagres River at Barbacoas has been strength-
ened to equal a Cooper E50 structure, by replacing the 3 north spans
over the river channel with three entirely new spans and by strength-
ening the 3 south spans of the old bridge. Both floor system and main
girders being weak in the old bridge, it was necessary to provide new
14 REPORT OF Tit PANAMA RAILROAD COMPANY.

floor beams and also to place steel bents under the middle of these

spans. As the Chagres floods will not admit of any obstruction in the

channel, only the 3 south or shore spans could be so strengthened.

New floor beams were placed in July and August, 3 new spans were in-

a in April, and steel bents were placed under the 3 old spans in
ay.

In Colon, quarters for 15 families have been constructed, 3 of
them being in new buildings and the remainder in remodeled buildings
_ formerly used as storehouse and stable. Five old houses have been
moved to new locations, entirely repaired, and new plumbing installed.
A new 4-room schoolhouse was built, occupying part of the site of the
old Colon terminal, which has been entirely torn down.

_ New roots have been constructed for docks 1, 2, and 4, Colon, and a
12-foot addition built on north side of dock 4; total cost of these dock
repairs, $38,014.90. :

Other work done in Colon includes building fences around docks 1,
2, and 4 to give greater security to freight, and building 2,000 feet of
riprap sea wall and 1,000 feet of concrete wall between the Colon light-
house and the quarantine hospital to protect the beach from the ac-
tion of storms. :

_In Cristobal a standard building for quarters for 4 families has been
built, a paint storehouse and a general storehouse, together with pine
racks, etc., constructed an addition made to the bakery and laundry
buildings, and the cold-storage plant enlarged by moving the offices to
a new building erected alongside, refrigerating the second floor and
building an additional ice-making room on first floor. The boiler and
engine rooms were also enlarged to provide power for the additional
refrigeration, and to provide space for the Colon electric-lLght machin-
ery, which will be consolidated with the cold-storage power plant.

The salesroom in Cristobal commissary has been completely
remodeled, and the upstairs, formerly occupied by post-office and
court room, made into offices and storeroom. A 40 by 50 three-story
addition has been built. :

New section houses have been built at Mount Hope, Bas Obispo,
and Pedro Micuel. The Gatun station building has been moved
back about 40 feet to clear excavation for Gatun Dam. In connection
with moving old Gatun village, a new church and parsonage have
been built. These, as well as the station work, were paid for by the
Isthmian Canal Commission.

Water cranes have been installed at Tabernilla and Matachin, a
new freight house built at Empire, and the old Miraflores station torn
down and moved 500 feet north.

In connection with the remodeling of Panama yard, the work done

by this department includes installng a new 60-foot turntable,
erecting a 21,000-gallon steel water tank and a water crane, and
constructing a double 30-foot cinder pit. - New buildings erected are
yardmaster’s office and dwelling, engine house, and addition to
machine shop and carpenter shop. The old freight houses have been
removed and reconstructed so as to make a house 42 by 540 feet, with

a shed addition extending the whole-length, covering two tracks on
one side and a team platform on the other side. This team platform
is on the east line of the new street which runs from Sixteenth street
to the passenger depot. The machine shop has been moved and
REPORT OF THE PANAMA RAILROAD COMPANY. eS

enlarged, and the engineer's quarters moved and repaired. The
passenger station has been remodeled to permit of a ticket-checking
system being used and a concrete platform built long enough to
accommodate the increased passenger train length. An 8-foot picket —
fence, 8,000 feet long, has been built around the entire yard to give
oreater security to freight and to cut down expense for watchmen.

CONSTRUCTION OF RELOCATED LINE.

The relocated line of the Panama Railroad was made necessary by
the plans of the Canal Commission for building an 85-foot level lock
canal. The old Panama Railroad will be used from Colon as far as
Mindi (5 miles), at which point the new location begins. From here
the Panama Railroad seeks its own location as far as Bas Obispo,
where it enters the Culebra Cut and is carried through this cut as far
as Pedro Miguel. From this point the line again finds its own loca-
tion and after passing through the Miraflores tunnel it connects with
the old Panama Railroad near the Cardenas River, a point near Coro-
zal. It is necessary to maintain the high level from Gatun to Pedro
Miguel, but after passing the lock site at Fedro Miguel the grade is
dropped about 30 feet, and after passing the tunnel of the ridge oppo-
site Miraflores locks the grade is dropped about. 40 feet to connect
with the old main line. The only grades, therefore, on the new line are
at either end; from Mindi to Gatun, where it rises practically from sea
level to elevation 95, and from Pedro Miguel to the old main line at
Cardenas River. The remainder of the road is practically a level
grade, 10 feet above the lake level. It is benched in on the side hills
on the eastern side of the Chagres Valley, from 2 to 3 miles from the
old Panama Railroad, on what will be the border of the Gatun Lake.
The relocated line is being built as a single track. ;

Construction work was begun in May and June of 1907, during which
time numerous connection tracks had been started from the operated
line to the relocated line to transfer men, equipment, and supplies
for grading purposes. During the months of July and August, 1907,
this work of preparation went on very rapidly. Many of the connec-
tion tracks were completed, and considerable grading was done at
certain points on the main line. In the latter part of August, how-
ever, orders were received to suspend operations, due to a lack of
appropriation for this work, and construction work on a general scale
was shut down. A definite policy was outlined to work only at the
following designated points, where the construction of the new line
would materially aid Canal Commission plans: |

1. From Mindi, through Gatun, to Tiger Hill, a distance of 44 miles. ©

2. At Gamboa, on the erection of the permanent steel bridge across
the Chagres River, at the northern end of the Culebra Cut.

3. Krom Gamboa north on the construction of, approximately, 2
miles of the relocated line.

4. At Miraflores, on the construction of the tunnel, and the two
large concrete arch culverts at Pedro Miguel and Caimitillo Rivers.

The construction of the relocated line at Gatun was necessary in
order to be able to vacate the old Panama Railroad tracks at that
point, which will interfere with the construction of the Gatun Dam.
The construction of the new Chagres River bridge and a few miles of
16 REPORT OF THE PANAMA RAILROAD COMPANY.

the line connection with it was necessary in order to furnish an outlet
from the Culebra Cut to numerous valleys along the line of the reloca-
tion, which will afford cheap dump grounds for excavated material
from the cut. In the relocation of the line, the Chagres River was
~ crossed at a point about 10 miles farther upstream than the old line
crossing at Barbacoas. This crossing is exactly at the northern
entrance to the Culebra Cut at Bas Obispo. Work on Miraflores
ae was continued, as time is the largest factor on such a piece of
work.

From Mindi to Tiger Hill, through Gatun.—From Mindi, where the
relocated line branches off, to the high level of 95 feet at Gatun
(2 miles) the road hes on the Colon side of the Gatun Dam. These
2 miles of permanent line were built during the year.

At the same time a temporary line (2.5 miles) was built through ~
what wil be the lake region, connecting the high level (95) with the
low grade (22) of the old main line at Tiger Hill. This temporary
line, however, was almost entirely embankment, and the line so
located that the yardage would not be lost, but would, in the end,
become a part of the permanent line. It was necessary to build some
of these embankments in two or three decks, due to their immense
height (85 feet), and the material used in most part was waste material . ~
from the Canal Commission.

This section of 44 miles is now finished and ready for operation.
A unique feature of the temporary part of this line is that one of the
old wrought-iron girder spans taken out of the main-line bridge at
Barbacoas was used across a shorter span at the Gatuncillo River.

In the construction of the temporary part of this line from Gatun to
Tiger Hill, it developed that the crossing of the valley of the Gatun-
cillo Kkiver was to prove a very difficult problem. From a point of
the Gatun hills to Tiger Hill, a distance of 6,500 feet, the relocated
line les on the bottom land on either side of the Gatuncillo Hiver.
The elevation of this ground is about 8 above sea level, and the original
plans were to build an earth embankment, 84 feet high, with a wide ©
top and flat side slopes, which figured to contain 4,250,000 cubic yards.
It was proposed to haul a great deal of this material from the Culebra
Cut. At the time the temporary trestle was started for making this
fill, soundings were made to determine the character of the bottom,
and it developed that there existed an upper crust of 25 feet of clay
and sands over very soft clay below, while solid rock was 200 feet
below the surface of the ground. The most serious thing is the nature
of this soft brown clay, filled with decomposed wood, which occupies
the space between the upper layer of hard clay and sand and the
solid bed rock.

It was decided at the time this report was made that it was neces-
sary to continue the construction of the temporary line from Gatun
to Tiger Hill to complete the connection between Mindi and Tiger
Hill, even though a permanent line could not be built. While work
on this temporary connection went forward, parties were put into
the field to seek a new location which would avoid crossing the
Gatuncillo Valley at the point mentioned. The surveys developed
the fact that (1) a very good line at Gatuncillo River crossing existed
direct from Mount Hope through Monte Lirio to Bohio, but which
would have the disadvantage of leaving Gatun on a spur line; (2) that
REPORT OF THE PANAMA RAILROAD COMPANY. iy

a line could be secured turning up the Gatun ridge and connecting
with the Mount Hope—Bohio line just mentioned. :

These lines were taken up and at the same time the construction
of a steel viaduct over the Gatuncillo Valley (in place of the immense
dump) was considered. The decision reached was, that the choice
lay between building a steel viaduct over the Gatuncillo bottoms on
the present line, or taking the new line up the Gatun ridge and cross-
ing the Gatuncillo River farther up, at Monte Lirio, on the hne as
located from Mount Hope. :

Later surveys now under way have developed the fact that it may
be possible to further improve this upper line, by making an entirely
different crossing of the Bohio Ridge, and the results of this survey
will decide the question of the crossing of the Gatuncillo Valley. _

The new Gamboa bridge.—The approved location for the new Gam-
boa bridge called for an opening of about 1,300 feet across the Chagres
Valley at the north end of Culebra Cut, and high enough to clear the

future elevation of Gatun Lake. The bridge is on a curve and con-
| ms at each end with a 40-foot beam along the east slope of the
canal. |

The general plans and specifications were completed July 9, 1907.
The bridge was designed for Cooper’s E-50 loading, and under the
specifications of the American Railway Engineering and Maintenance ~
of Way Association. It consists of a 200-foot riveted truss span of the
Warren type for the channel, and 14 80-foot through plate girder.
spans, of which 9 are on tangent, 1 on spiral, and 4 on a 6° curve.
The channel span is 17 feet between the center lines of trusses, and 34
feet between center lines of top and bottom chords, giving a lateral
clearance of 7 feet 3 inches from center of track and a vertical clearance
above top of rails of 22 feet 8inches. ‘The tangent girders are 15 feet
6 inches center line to center line of webs, giving a lateral clearance of
7 feet 1 inch from center of track, while the girders on the curve are 17
feet between center lines of webs, to give equal clearance for longest.
cars. To give an uninterrupted line of webs, a special span is intro-
duced at one end of the curve, with distance between centers of 15 feet
6 inches at one end and 17 feet at the other, the same as adjoining
girders. The other end of the curve is at the truss, where the wide
girders line with the trusses. ‘The least clearance between usual sur-
face of lake (elevation 85) and the steel is 9 feet, which will be
reduced to about 7 feet in time of flood. The total weight of steel is
1,105.12 tons, of which 206.6 are in the truss span and the remainder in
the 14 girder spans. . ae |

Bids were advertised for August 18, and the contract let August 28,
1907, to the Penn Bridge Company, of Beaver Falls, Pa., at $59,600,
New York delivery to begin February 1 and be completed April 1,
1908. This time was later extended one month by the contract. _

Foundations.—Diamond and wash drill borings had been made on —
the proposed site, which showed that it would be impracticable to
carry the foundations to solid rock except at the south abutment.
Piers and abutments were therefore designed, founded on grillage piles.
The masonry is machine-mixed broken stone concrete, using Rio
Grande superior rock, Panama beach sand,and Portland cement. The
mixture was 1, 2, 5, being especially rich because the sand used is not.
first class. Also, on account of the poor quality of sand, the rock was

S Doc, 682.602. 2 |
18° REPORT OF THE PANAMA RAILROAD COMPANY.

crushed to pass through a 14-inch ring and used “‘crusher run,’’ this
containing a large proportion of fine broken stone which furnished a
substitute for sand. The piers are heavily reinforced with old French
rail. All piers were built with a batter of 0.707 inch per foot. The
abutments were designed to be buried and have no batter. When the
Gatun Lake is flooded, all grillage piles will be far beneath the water
line, but as it will be some five or six years before this takes place,
creosoted piles only were used for foundation. : |

Erection.—A bridge had been built at this point by the French, of
which two spans, respectively 100 and 200 feet long, were still stand-
ing. Although too light for heavy traffic, they were valuable for con-
struction purposes. A temporary trestle was built from the north end
of the channel span of this bridge, 18-foot centers for the new bridge,
toa point beyond the north abutment. The south end of the 100-foot
span was connected with the track in Bas Obispo Cut. Over this
track and bridge all material for construction of the piers was handled,
and the trestle served in place of false work for the spans north of the
truss—that is, for 11 of the girder spans. In the construction of this
trestle 9,391 lineal feet of piles were used.

The first shipment of steel left the shops in Beaver Falls February
25, 1908, the last March 20. They arrived in Colon March 25 and
April 10, respectively. The girders were erected in the Gorgona
shops of the Isthmian Canal Commission and shipped to the bridge
site set up, ready for landing on the piers. The shop erection began
March 27 and was finished by May 27. To place the 3 girder spans
south of the river channel and to erect the truss, it was necessary
to drive false work from the south end. This had been done by
the time the first shipment arrived on the Isthmus, and on April 1
the erection of the truss span was begun. Work was pushed as
rapidly as possible, in order to get it in place before the rainy season
should endanger the false work. This was accomplished when the
span was.swung April 14. The false work was then cut off at water
level and removed. The girders for the spans north of the channel
were landed with two cranes, one of which stood on the temporary
trestle and one on the last completed span of the new bridge. Three,
and part of the time four, riveting gangs were kept at work and
practically all riveting was completed June 30, 1908. Painting of
the bridge will be deferred until the next dry season, all rust being
_ removed with wire brushes and a coat of oil having been applied

immediately after erection.

Summary of cost.

Cost of placing concrete in piers, 3,518 cubic yards, labor and material,

qUeplO.o+ DEMGUDIC WAR ee $68, 753) 038
Gostiol talse work: es 6, 855. 67
Cost olsteel and erection. =. 22.25 2 5k Se ae 83, 025. 04

jHandline olomisecllaneousmatenal:.- 2.2005). 2, 433. 40
@ost of Dard ware. 2-20 2 2, 226. 41
: , ; 163, 2938. 55.
_ This total cost may be further divided as follows:
DUDSEPUCHUNG oo e ee y $75, 608. 70

Superstructure...... Ee oe ee Se UL ee Boe ee 87, 684. 85
ee 163, 295. 55
REPORT OF THE PANAMA RAILROAD COMPANY. 19:

From Gamboa bridge to Juan Grande (2 miles north from Gamboa).—
As previously outlined, this section of the line was built because it
opened up several important dumps for waste material from the
Culebra Cut. A comparatively small force was kept at work on
this section the entire year. Only small water openings were put
in permanently, the larger valleys being left with an open temporary
trestle. One temporary connection was built from the Gorgona
gravel pit to land a steam shovel to work on large side-hill cut. The
excavation of the remainder of this section was done by hand labor,
and task work was here used to good advantage. The located line
here crosses several long valleys and it is at these points the Canal
Commission proposes to establish dumps, the material to be hauled
out of the Culebra Cut over the new Gamboa bridge and dumped
from trestles driven on the relocated line. There is dump ground
available for 10,000,000 cubic yards. About 1 mile of trestle was
driven on this section. This part of the line is now about complete
except the two or three large culverts which will have to be put in
next dry season. | | :

Pedro Miguel to Corozal.—After general operation was suspended
in August, there was no work done on this section except at the
Miraflores Tunnel, and on the construction of two permanent arch
culverts, one at the Pedro Miguel River and one at the Caimetillo
River. | |

The Miraflores Tunnel is laid out on a tangent, 595 feet long, and
has a grade throughout for drainage in both directions. Construction
work on the tunnel has kept up constantly during the entire year, and
for the most part, work was carried on day and night. A connection
track from the Panama Railroad to the north approach was completed
in October, and this line is used for bringing the material and supplies.
A second connection track was more recently started, leading to the
south approach, and this is now 90 per cent complete. The north
approach was taken out at first by hand labor, and afterwards by
steam shovel, and involved moving of 10,000 cubic yards of earth and
rock. The south approach was taken out by task work entirely, to
the amount of 30,000 cubic yards. ‘The excavation of the north end
of the tunnel proper was begun in September. A drift or heading,
about 6 by 8 feet, was carried through to coincide with the crown of
the arch ring, and this drift was followed up by the excavation of the
entire semicircle of the arch. Timbering was required throughout.

A 5-piece arch ring 12-foot by 12-inch and 12 foot by 14-inch
posts were used. The distance between timber sets varies from 5-foot
centers at the north end, where the material is rock, to 3-foot centers
at the south end, which isin earth. The tunnel section provides lateral
clearance of 7 feet 6 inches from center of track and vertical clearance
of 22 feet above rail. The north end is in solid rock, although of a
treacherous character, but for about 200 feet on the south side, clay is
encountered, which has a tendency to slide. Excavation is completed
and timbers placed throughout 90 per cent of the length of the tunnel.
_ {On all of the small cuts and at the tunnel portals so-called ‘‘task
work” was used with much success. Under this system the laborer
gets paid not by the hour or day, but by the number of Decauville
cars of material excavated and placed in embankment. That is, the
laborer is paid 10 cents gold for each car of material excavated from
the cut and placed in the embankment. As these cars hold about
20 REPORT OF THE PANAMA RAILROAD COMPANY.

one-half cubic yard, ‘‘labor cost” for this class of excavation was
about 20 cents gold per cubic yard. When the haul increased, or
harder material was encountered, extra men were put on, paid by
the railroad company, and this would tend to increase the general
labor cost per cubic yard for that particular piece of work, but the
average cost per cubic yard for task work is about 30 cents. It is
at this task work that the West Indian laborer is most proficient.
The question of supervision. solves itself. The usual “‘bossing”
required in a gang hired by the hour is not necessary, and it is not
difficult for one on going over the line to determine which gangs are
_ working under the task system.

A 20-24 reenforced concrete arch culvert was put in at the Caimitillo
River about 1,000 feet north of Miraflores, and one of similar size and
design was put in at the Pedro Miguel River opposite Pedro Miguel
yard. Work was commenced on these in February and both culverts
were finished by the first of June.

The following is a summary of the cost of these two structures:

Caimitillo River culvert.

WW eee Oe ee ae feet 20
lei ee ee ee eh do 24
Length:
INGA eee ey es hoe ae do 117
Wino walle: 220) oe Se do 45
Excavation of site (4,520 cubic yards of earth, at $1.09)......-..-.------- $4, 923. 05
Placing concrete, 3,440 cubic yards:
Labor, at-$3: per cubie yard 2-222... 225-7: et en en eee NG 11, 380. 70
Material, at $5.85 per cubic yard...-- ioe Cee a hee eee re 20, 124. 60
Hardware Cost 0 1, 483. 75
37, 912. 10

Total cost of concrete placed, per cubic yard, $10.59.

| : Pedro Miguel culvert.
Width 0 Co iect 20

evant et ee ee dou: 24
Length: |

Wain arGhe ce 6 een a ee Pe a ee dow: 102

NWanio: Wwallsie
' Excavation of site 920 cubic yards, at $3.01)..----.- 8-3 8 6 $3, 432. 30
Placing concrete, 2,665 cubic yards: /

Gabor, ali be'o8 per CUDIC yard 225.222) 23 ee Dee eee 9, 561. 20

Mt eriaee tee eee ee ss 15, 036. 94

Hardiwane C0sth..25-225: 5 2s: ae ee Ss oe a a 196. 95

28, 227. 39

Total cost per cubic yard of concrete placed, $10.52.

A change of alignment between Miraflores and Panama was made
necessary during the year, due to the Canal Commission changing the
location of the locks from La Boca’ to Miraflores. This change
allowed us to drop down to the present grade of the Panama Railroad
at bridge 62, and will save the construction of a relocated line trom
the Cardenas River to La Boca Junction, a distance of 2.5 miles, at an
estimated saving in cost of $200,000. :
REPORT OF THE PANAMA RAILROAD COMPANY. : 21
COMMISSARY DEPARTMENT.

The work of the department during this year has been largely con-
structive. The ever-increasing demand has been met, and as an indi-
cation of the increase in sales to purchasers other than hotels, hos-
pitals, steamships, etc., it will be interesting to note that the sales
in the month of June, “1907, amounted to $93,505.78, while in the
month of June, 1908, they were $182,941.63.

In the month of June, 1907, commissaries were operated at the.
following places: Cristobal, Gatun, Gorgona, Empire, Culebra, Rio
Grande, “Paraiso, Pedro Miguel.

During the fiscal year just ended, commissaries have been Croc
and put in operation at Tabernilla, Las Cacadas, Porto Bello, Bas
Obispo, Hast La Boca.

The negroes formerly in charge of the stores at all points have been
replaced by competent white men. Cooling rooms or ice boxes have
been installed at every commissary on the line where purchasers may
procure vegetables and meats much the same as they would in any
grocery establishment in the United States. In addition to this, at our
five larger commissaries, 1. e., Cristobal, Gorgona, Empire, Culebra,
and East La Boca, a full line of men’ S and women’s wearing apparel
has been put on sale.

A manufacturing and cold-storage division was completed and in-
stalled during the year.

The erection of the cold-storage and power plants, bakery, and
laundry commenced late in 1906 and were completed about Septem-
ber 1, 1907. At present the following plants are operated: Printing,
ice cream, cold storage, coffee roasting, ice making, bakery Gncluding
bread making and pastry making).

The month of May is typical as showing the amount of business
done in these several departments, and the following statement gives
some idea of its operations:

| 1908.
| a eS —| May, 1907
| May. ‘April
Cold storage::
Packocesehamaledis: sick S210 cee ie ee Reta gees east 26, 489 26; O25 | Ree eee
WwW eight ol packaces handledic sree ae pounds. . 1, 495, 093 1,393, 440 285, 175
EUG ViCTL ULC es oo cer NIE GN SAS tu See ea $127, 959. 94 $124, 632. 24 $50, 614. 55
‘otalexpense; labors tyes ce CnC as lanes eee ae ~ $6,134. 47 $6, 200. 90 $1, 018. 21
Total expense, material and charges ........- CoN eee ea $8, 189. 08 $10,229. Asli eR eats
Cost of expenses per selling value of goods...... per cent... 11.19 LRG | See woee tee aes
Ice manufacture:
CORPO CE Mize oe a ie ei gees blocks. | 13,022 | TD O80 sires ee
AAAS) Fed aS es ie ie eel ae are se emia eM Gen. ernie tons. .| 1,953 ROA Wess cent
FREVOIIUG ie ee es eae RE gS ea aac Neen leaps 821.55 $13, 629. 79 $7, 846. 09
FROTAIORDONSESE ewe ee 1s Ne ia ig SN ena aeaett $10,971. 08 $13 , 142, 27 $5, 561. 96
Laundry: -
Customers on books: 32. 2222 Sear dt DAN eo nn on | 5, 000 SOOO ters so eee
Rackares mam dleds sett ete oe ee | 6,139 ORIQE ee es
PRiecesHaunderedtsc sei ier NG eal aaa te ea 191,186 LEG 966 ee i ee aoe
Amount of claims paid........... eae ie BO ce | $63.18 |. POOMS Qi | ae oi ee ores
PATTI CLES TOS Borie oe ae SCE a he a a aa tees oN 52 LO sie see See eine
TVCIOS Gaimlar ede mts. Soar lol) Ce eg eal eat era 1 Os ie 2 ge ne ea eas
Claimscand: complaints Tecelveds:. 2 kes ee ee ee 28 DD een ae eae
PROVARTEVEMUC score oman eG Mos Eee eee eas $7,098. 13 $6, 445. 02 $2,376. 63
ROUGE EXPCMSCS 8 at eae ee Ce tee team en ease $7,392. 78. $7, 809. 77 2, 668. 48
Bakery:
Bread baked... ... FOU Ei ee Fe ean ce Se ag re ea loaves. . 444 882 449 136 445,106
ROWRIRCOSEs Vea OTe ss ose Si eee eos aie tices Ste $3, 531. 97 $3,949. 62 $2, 988. 81
Cost onlabomperloats 2a.. t epee eee eee aces $0. 0078 $0. 0089 0. 0067
Total revenue....... SAN AA ead NC AEN we 2s ave me Ey $20,121. 48 $18, 667. 90 $18, 252. 73

Motalexpensesce sere oe ee ee nO, OSS08 $18, 989. 94 $15,225. 44
oo. REPORT OF THE PANAMA RAILROAD COMPANY.







|
1908.
ee May, 1907.
May | April
eae eo es
Pastry division:
TPTOS DBO Ceo en oe arte te eee Men en Oa ee 16, 641 LOS GOS ee
Otel revenues. cs eee ee Ee gee ec | $1, 664. 10 | PIN OGS RO eee os Sys ae
EDO A OxPenSesie Ss Se eae an an Oa ace ee tee eave een $2, 208. 96 GOSS alice ees eas
COST PEL DIC se ee eee EC on $0. 132 SOSOO2 eee See se ae
Cake Wakes ee eee Ge ee ieee a pounds... - 14,1147 AOS eae asec es
MROLAT TEV. UC soos RO Ss eh noe crc $1, 411. 40 | 425 BOS see sae s
RO LAIKeXPENSCSa ssa ee ae Ce es Se ee ns hie $1, 781. 55 | MOOOs OOM eos Secs
Cost-ofcake per pounds 2 5. es Mera ae | $0. 126 SOI 29 cis ore eS Sees
Printing plant:
TIMP LESSIONIS= S20 ae oy ee a en teats 533, 850 2. 9b0 eo bs lees Sis eee
RO taL Ley. CAUICS Sse S8 See NG NE ea eee ee a | $1, 867.93 | $3; (AQES 4 eae ose
MoOtalexpensessie 2 eee kee AS ee $1, 833.71 | $3 0018435) oye
Coffee-roasting plant: |
Coffee roasted oreene sia as so eee eh gees pounds. _ 17,274 | Lp SAGE Ee wren eres
Coplee produGeds. 2o8 2s eee ee ee Be nee Goes] 16,257 | 60888 eee ae
LOLA CXPCNSCS 25 ek es hed Oe See a eee eee i $2, 268. 15 | SLT OSOS sees eee
Power plant: |
PROCATTOVONU CG: 22k se ee aN en aioe rege cate Ta | $10, 174. 59 $9, 148. 50 | $3, 778. 50
Motalexpense, labOns cc ee es a Se ee Sere $2, 825. 35 $2, 658. 05 | $1, 517. 08
Total expense, material and charges...._.-.. 22 2.2....... $7, 586. 56 $7, 743. 09 | $2, 261. 85



The operation of the ice-cream plant was begun about June 13,
the daily production of this department being about 100 gallons of
ice cream. This will be largely increased in the near future.

During the year we succeeded in closing contracts with the Royal
Mail Steam Packet Company and the United Fruit Company for
large additional cold-storage space, and it was clearly seen in the
first part of the year that a large cold-storage plant, without facilities
for transporting the goods, would be of no value. After this service
was procured, we were enabled to supply all of the meats necessary
for consumption in hotels and messes. At the present time we are
supplying the hotels and messes monthly with an average of 3,400
quarters. | ee

Some of the principal items purchased during the year were:

Article. | Amount. Value.



HEROS Wet Oo Go ae ca a) Sa ek Oe ean hereto mee Spe Paste ee pounds..| 5,199,672 | $383, 045. 46
ME OUUE GT yes ies es ee eee eae dome: 387, 523 68, 682. 10
IVIOR ES LaDICSs een ese Meas yk Ce nae Ao ye ee are ce PRS er aS oe do....| 3,068, 456 &9, 954. 13
BESS UTS Tes eae noe as en ee en ee ee eee od ee arnt os dose 258, 427 83, 486. 29
OVA OCS ies ae ee i aes ec PASE Ta earls Ss Seana sre Cee do....| 4,953,282 94,154. 77.
HOS epee es ao oe eet oe er ed parapets aunty Oya emo anaa e ys dozen. . 3738, 440 87, 959. 02
PEST UN TSS eer ee ae enter ets tee ran ay Reg eae ey Mae barrels. . 24,505 | 129,921.06

OD ACCORâ„¢ sae ee SS Pur za Sonics SAE vay SUES a ae ae pe cea CRO Ray ee gE Da el Sy eae oe LL 907587.

In the handling of vegetables we have been very much handi-
capped by reason of having no dry cold storage in which to keep
them after their arrival. This, however, has now been overcome
by the installation of a dry cold-storage system on the second floor
of the cold-storage plant. — :

Our ice-making plant was found to be inadequate to supply the
demands made upon us, and an additional unit is being installed to
produce 23 tons per day in addition to the 50 tons which is now the
daily capacity of the plant. | ;

The original plans with respect to the laundry contemplated a
plant entirely too small to take care of our needs. This has been
remedied by a 40-foot addition to the present plant and the installa-
REPORT OF THE PANAMA. RATLROAD COMPANY. vit

tion of more machinery to take care of the increasing and great
amount of work done in this branch of the department.
Operations for the fiscal year are shown below:







Stock on-hand Jume 30; 19072 302) ee ee $433, 730. 75
Notal stock received = {3304.60 ee 3, 564, 720. 25
3, 998, 451. 00
*Total sales, disposed of as follows: |
Isthmian Canal Commission hotels and messes. Ce 80. 2OOsO2
Various departments Panama Railroad Company .. Se ce nee area, 71, 739. 82
Panama Railroad Steamship Wine 22 5, 410. 51
Isthmian Canal Commission hospitals and sanitary department,
(charged direct): ) 2 2. ee 226, 185. 00
Various Isthmian Canal Commission departments on awards from
material and: supplies soe... es ee 87, 034. 71
Cash sales (principally to United States ships).........-...-..----- | 7, 854. 78
PersonalcacecOumis: 0 oe 84, 397. 72
GpupOn sales sos ee a ee a ee nr oe 1, 864, 487. 22
Supplies used from stock account ‘‘Expense accounts” ......-....- 71, 231. 71
3, 193, O97. 99
mvyerage per month 2930 2 ee Ue ee a oe . 316, 133. 17

StockJonshand June:30; L908 2 a es ee ee 782, 735. 95
MATERIAL STORES DEPARTMENT.

This fiscal year has been one of great activity and improvement,
both in the amount of stock disbursed and in the addition of new
storehouses, pipe and casting racks. These additions were abso-
lutely necessary, not only for the more economical handling of mate-
rial, but for its actual preservation.

They are as follows: One warehouse with two floors, 43 by 133
feet, at an estimated cost of $11,130.79; 1 casting Tues, 33, by 270
feet : 1 pipe rack, 25 by 60 feet.

These improvements have made possible the oonblee and proper
classification of all material at one place, which formerly, for lack of
proper grounds and storehouses, had been widely scattered and
required a large force to handle.

The saving in operating expenses resulting from the construction
of the new warehouses and racks did not become apparent until May,
on account of the expense of moving the material to the new buildings
and the heavy shipments of lumber received, but our pay roll for
May, 1908, shows a decrease -of $1,107.80 over April, 1908, and
$1,962.80 over May, 1907, while the amount of business transacted
was $115,829.25 in May of this year and $117,478.48 in May of- last
year. Since the amount of business was about the same during the
two months, this saving can properly be attributed to increased
facility in handling.
pune the fiscal year the store department handled material as
ollows:

ee DEBITS. |
Matertaleom hand Julyol, W90;es 6 2. $227, 374. 50
Material received by New York invoices..........-.-- I, 315, 700. O1
Material received by purchase from Isthmian Canal ~
COMMISSION: 4: a eS 342, 547. 56
. Material received by shop work......- ee ee 110, 571. 82
Material received by other purchases: 2 2.5 9.222 34, 132. 10

Motalede@bite 4 ee $2, 030, 325, 99
24 REPORT OF THE PANAMA RAILROAD COMPANY.

e CREDIT.
Motel disbursed to various departments 22. b1, 487, 714.94
Material disbursed to New York credit invoices. ......- NOC lon an
Material disbursed to Isthmian Canal Commission and }
SSUNOLY (CTSONS cc. ae eee 88, 834. 01
‘Mitenalon hand June 30, 1908.2... 403, 061. 72
Total i ee oe $2, 030, 325. 99
The cost of handling this material has been
BOY COLDS ES a ee ee er es CC 63, 613. 02
Oiilercexpenses 0 8 ea eee ee a 14, 836. 47
POG es ee ee ee 78, 449. 49

Per cent store expense to total business, 4.8.
LAND DEPARTMENT.

The establishing of modern business methods in connection with
the handling of the company’s property has developed a very impor-
tant department, whose activities have been continually increasing.

The general policy of requiting all parties occupying company
ground to execute leases will emphasize its ownership and bring in
certain revenue, which, in each individual case, is fixed through the
medium of competitive bidding. Such revenue is small from eccle-
siastical and charitable organizations but greater from mercantile
institutions, according to location. Industrial establishments are
given locations at nominal rentals.

Three forms of leases have been approved by our general counsel
and are now being issued to cover lands that have been assigned and
occupied for the past two years.

Land rentals are being collected as follows:



Lots

GOLGI ee NC ie eee ee AO 8 754
BONTRIL Cl ee eee ed ig a me Pen Ue Na I eee ee 38
Ree ee Ae ny ene ns ees siya a eRe a erie 143
1 DG) UNC Y hy arses as OR REE Bs ONE rd 2a ii 8 rie A i eek oe eC ee OR a 11
POC eae e ee ee ee ee Ss ee ee 37
PAVING ok ee ee ee a a Se oe Se elas eee oe 473
Gaile bia ee ers Bestel ie nolan Sines Ca ag Ugh nase pao eas 67
BMT ATA a ee eS ee ae aes 367
RCA UU OILIN Cet ee cee en A ey I a 10
A Oba ee ee ee 1, 900

New village plots and subdivisions of old cities and villages are being
provided from time to time as applications are received for additional
space. |
TELEGRAPH AND TELEPHONE DEPARTMENTS.

The continual increased activities of the Isthmian Canal Commis-
sion’s forces and work and the advances of the construction of the
canal are such that large forces are necessary at all times to provide
for the moving of pole lines and wires, changing of telephones, and
installation of new ones.

A very important adjunct to this department has been added to
install and maintain various primitive interlocking machines for,
rapid operation of switches and signals to accelerate the movement
_ of the trattic at congested points.


REPORT OF THE PANAMA RAILROAD COMPANY. 29

_ The increase of the telephone facilities has demanded the installa-
tion of a number of new modern multiple switchboards, and some
general idea of the activities of this department can be gathered
from the work done during the past year, as follows:

Miles
_ Iron telegraph and telephone poles set.-.-......-..-...- Pee Ee aE rete 281
Wiles StYUNO ys ee ee ee eae 866
Cables'strumes 890 a ee Oe Be See 4
Intetlockine Jeversinstalled 34002 ee ea eee oe 42
Switchboards (S80 limes) tmstalled si) ee es ee ae Oe

A complete time circuit with electrical clocks controlled by a
master clock has been thrown into operation, providing standard
eastern time at all important points.

At the close of the year this department has under its care the
activities associated with a plant consisting of 65 miles of pole line,
1,761 miles of open wire, 443 miles of wire in cables, 926 telephones,
14 telephone exchanges, 41 telegraph offices, 4 interlocking machines,
36 semaphore signals, and 4 electrical signals.

In the construction of the new line of railroad it will be necessary
to build a new telegraph and telephone line, and all wire on this
permanent line will naturally be copper..

ELECTRICAL DEPARTMENT.

During the year we have endeavored to arrange our plants to care
for the rapidly increasing demand for power for lighting and other
purposes.

The La Boca plant has been modernized and the necessary changes
substituting oil for coal as fuel, which have been completed, have re-
sulted in decided economical operation. Owing to the fact that
the Isthmian Canal Commission consume about 75 per cent of current
produced, negotiations are now being considered to turn the plant
over to the commission for operation.

The growth of the activities of the commissary department at —
Cristobal demanded enlarged output and required the entire recon-
struction of boilers, motors, and other appliances to double the old
capacity, and even these will be so badly overloaded that it will be
impracticable to supply any current for Gatun, as was previously
considered.

_ The electric plant on Colon beach will later be consolidated with
the Cristobal activities, and oil for fuel will be installed. These
changes will result in further economies.

During the year the department furnished light for 984,744 kilowatt
hours, and installed the following facilities:

lGscandlepower lamps: 2220 0705 eS a ee ea 1, 270
SeComCleMOWer lam pS. 2) oo Ue Ca ee ae ae eG
G-clower-Nermet lampe:.-so52 0 ee ee re 11
oclower Nernst lapipss 2.65. a 30
It also supphed power for the following additional lights:
dc-candlepowenr lamps 662 ee ee 2 91
‘lOscandlepower lamps soos ee 0, 264
8-candlepower lamps.........-....- Se er ee oan 70
O-clower Nermst lamps: 220090 oe el ee ee 13
3-clower Nernst lamps..............-- Ee Dee es es 85
RTO AMOS ie oe ee Se ee ee GO
Pan motors: 2.2: Rs ee ee oe ee See eee et

USP RATS ee Nee BO NG aa ec se cae i ee 2
26 REPORT OF THE PANAMA RAILROAD COMPANY.

The present plants are in excellent physical condition*and capable
of following capacities in 15-candlepower lamps: |,

Generator Capacity. 09 es ee #19, 504
PETATISIORIMNET: CADACILYs eres ee ee 10, 530
Hotal lamp valuein i-candlepower lamps: :.25 2000222... 0 el 11, 735
Plant consists of —

IDOUICTS Ao ee re Ce ee horsepower.. 1, 480
Condensers.........- eee nes eee oO Oe es Nee do.... 1,600
IN OIN CS Sos eRe eI ee a ea eee do... el 295
IMOCOTS Soo So Ge ee ee A a ne do.... 1,540
Generators........ Sees ee Ss eee kilowatts.. 975
MANPANISTORTINCES oso Sas ee ke Rh ee BN es ee 100
ROLES oe i ne ee ee eres eo a oe ee 930
ANIROS: Seo Uk See a ee ee eo emiless: D0
AW SIMMOLORS csc es ee s 74
S-camdlepower lamps... ee oe ee 318
iG=-candlepower lamps. 5.10 3 ee ee Oe es a 9,577
Zo-candlepower lamps::...22.....2... SoS ee eee 94
A-CANGlepOWelampS... oe. eo se ee Ne 80
DUD MINSCSo oa es ee ee 128
i-clower, Nernsts. <0... 2.222. en es Bee Se es 33
DeOLOW EL. NCIUSi cm etnen ce tose oe oe ie Se 184
G-clower, “Nerist: <5) 25.05) 00os 2 es eh 33

Ree oes srl ee ee ee ee ee ee ee RS

PORT BUSINESS.

Number of vessels and their aggregate cargoes handled through our ports during fiscal year
| ending June 30, 1908. :

























Vessels. Tonnage received.
Seo cae eee : a nas SALES a a
Port and kind of freight. | Increase. Increase.
1907. | 1908. | | : "El 1907. 1908. ae
er er
: Mo: | cent. cone: cent.
ee ee | a ace |
Colon and Cristobal: | |
Oates ira ae ae eres ane bese (HES 44; 33 75 | 880,792 | 208,451 177, 341 87
Otierstreioht is ee 942 836 | 106 12 | 451,153 | 364,748 86, 405 23
ER OUADE oer ee en es 1,019 | 880 | 139 16} 831,945 | 568,199 263, 746 46
Panama and La Boca........_.| 181 | N60 1 81 | 181) 188-4807 106 033 | 57390 46
: ; | ies
Tonnage.
_ Dispatched. Total tons.
Port and kind of freight. a | | Fors een ene Secale aeua Gate aoner
ee | | Inerease. Increase.
1907. | 1908. oo 1007 1 1008.0 \ac = ae
er | Per
| Pons. | cent. Tons. | cent.
se ca a ee se | Saeed | eu varpac le Baa alia
: |
- Colon and Cristobal: |
Oe eee ees ey nos None. INOMC aoe oe ee 380,792 | 203, 451 177, 341 | 87
Otherareicehtes sc ees 152,684 | 132,424 | 20,260 | 15 603, 837 497,172 | 106,655 21
Totals ae eke 152,684 | 182,424 | 20,260; 15 984,629 | 700,623 | 284,006 4]





Panama and La Boca.......... 204,188 | 193,344 | 10,844 6 387,618 319, 377. 68, 241 21
REPORT OF THE PANAMA RAILROAD COMPANY. 27

Coal at Isthmus.

L908: | 1907...









Dee NS Tet SA EE EHS RES CoCo hy Ore IESE RRL CC da CU se RUE es SPT rere NMDA as Ocean eee as ar SES | eRe Soe

To Panama Railroad— Tons. Tons.
Or rOadseneineS=. 3s sas Na cpt te Ea vc ae OE PRU Ea eR EN Ton uF pa ROMA ge 22, 746 17, 297
For switch engines..........- pL Pee Sess ie pest nih ie Dee re Se Sn Si aera ety peg nce ge on 8, 184 6, 645
HOT OUNEL: PUTPOSCS Hoses iss GR oe es se ieee enc eae ages Sr Po Mater Aa Seo a 17, 883 14, 244
For Panama Railroad Steamship Line................. gS Sop egy Ne Bre Sans, 5, 581 | 3, 697
Mo.other steamship lines: 20 60.2 0 tee ee | 41,824] 87,887
Tossthinian: Canal Commission: <2 s es a aa ee ay oe eer [262.375 116, 586
Ro miscellaneous? hese Sees ee ay es EO eae nC WE ete ween aU cere 10, 088 7, 095
DO Ge eos set ees ETS STAN DO a rar earth lene wena cea en On Nera Ween ae Eat ano at ee 368, 331 203, 451



STEAMSHIP LINE.

Largely on account of the prevailing depression in maritime
affairs, but chiefly on account of exceptional conditions incidental to
the maintenance of its line, the result of the steamship operations of
the company for the fiscal year was unsatisfactory. |

The earnings amounted to $1,458,554.28, or a decrease of 6.56 per
cent, while operating expenses were $1,638,364.95, or an increase of
16.83 per cent.

The net loss for the year ending June 30, 1908, was $179,810.67, as
against a profit for the previous year of $158,562.95.

The exceptional conditions which produced this result were:

First. Low competitive rates for both passengers and cargo and
the fact that the bulk of the company’s customarily full passenger
lists have been made up of commission employees traveling at the
unpremunerative vacation rate of $20 between New York and Colon.

Second. That in order to maintain the food supply for an army of
employees on the Isthmus and to enable all classes of such employees
to arrive at and leave the Isthmus on the dates scheduled for their
vacation periods, the company was obliged to continuously operate
five steamers when its business could otherwise have been adequately
performed with four. |

Third. At no time has there been sufficient cargo from Colon to New
York for one line, and, for several years past, the business has been
divided between four competing lines—three to New York and one to
New Orleans—and for that reason this company’s vessels have been
operated on their homeward voyages without sufficient cargo to
insure stability; pig-iron ballast has on that account been provided
in material quantities for return trips and retained on board there-
alter, entailing a practically permanent outlay, while the ships were
deprived of freight earnings one way and space the other.

Fourth. The decrease in freight tonnage, and consequent loss of ©
earnings as compared with the previous year amounting to 14,823
tons, was only relatively offset by a decrease in operating expenses |
for labor on the proportionate decrease of cargo. |

Wifth. In July, 1907, the steamship Allianca was withdrawn for
rebuilding, as intimated in the last annual report, and was not

restored to her place in the schedule until January of the following _

year. The steamships Brunswick and Dunottar Castle were succes-
oy chartered at large expense to replace the Allcanca in the mean- —
while. :
28 - REPORT OF THE PANAMA RAILROAD COMPANY.

Sixth. Later, in March, 1908, the Isthmian Canal Commission’s
chartered steamer Colon was withdrawn in order that her passenger
accommodations might be increased and major repairs effected to
her hull and machinery at the expense of the commission. To
replace her on the line, the New York and Cuba Mail Steamship
Company's steamship Hsperanza was chartered. By far the largest
part of the steamship line’s deficit for the fiscal year was made up
of the increased expenditure for charter of steamers of $129,749.69,
as compared with previous year.

Seventh. The balance of the deficit is to be attributed to a general
advance in prices for and outlays on account of fuel and water,
pilotage and towage, claims and agency expenses, and to the large
additional expenses occasioned by special repairs in deck, engine,
and commissary departments, due to the uninterrupted operation
of steamers, whereby opportunity for ‘‘ordinary repairs’? was not
afforded; and, further, to a compulsory increase in wages of employees
in the engine and deck departments. It should be noted that not-
withstanding the increases in other directions, the steamship line’s
proportion of general expenses in New York shows a marked decrease.

The company’s dock facilities in New York Harbor have not yet been
enlarged though, as the current lease of its Pier 67, North River,
is to expire early in 1911, permanent arrangements must soon be
made in that direction. A favorable proposition to that end is now
under consideration. 2 :

GHNERAL REMARKS.

~ During the period from January 1, 1894, to June 30, 1908, inclusive,
the percentage of total expenses to gross earnings was as follows:

Per cent.
SOAR eee ee a es ie eo ee oe ee 69. 93
WSODN Ge see Resta a a ee Pee ee 61. 63
WSO Gs ee ee CeO ie ee ee ee een a 53. 94
Including taxes and appropriations for depreciation, etc.:
UC) (a er a ec at a ae ee 61.12
SOG ee i ee ae OE DO 64. 91
ROO est Ae seen ee re Cai Ee A ee ce ee 64. 66
NOOO Eee is ne eee a a ee rer sa ce SS ae 69. 25
NOQUE Reese ge ee ee BC eee 64.72 -
Or includine Racitie: Line not operated im 1900...) 2-42.23. te 76. 34
Including taxes and appropriations for depreciation, etc........--.---- 65. 87
| Orincludime Pacitic Line operated for six months :.22- 2.20. 8.2.2. 71. 02
Including appropriations for depreciation and special repairs: 2
190G Rs ee pes ae Bed eg es A eee 66. O1
OO Ge ee ee a 63. 69
WOOD ee ee ea a 77. 49
HOS ume: GOs mMmonths) si ee Sa ee eee 79. 54
MOO, June 30 G2 montis) ea ee eee oa 69. 44
HOSS ume SOeeL2 momblig\ees ee ee ee ee 74, 49

During the year 34 miles of double track were completed, and,
together with several new passing sidings, were thrown into service.
We now operate double track over 34.77 miles of the line.


REPORT OF THE PANAMA RAILROAD COMPANY. - 29

The total trackage June 30, 1908, was:
Operated line: |





Main line— 3
: Miles.
Colonsto Panama cie ioe ea Oe ree eee ATED
Iba Bocavbranche si 28 ee ee ae ee ee en Ge 2. 46
| 49.73
Second main line—
Gatuirto Culebra: Soe a er eae 29.18
Pedro Micuel to la Boca Jumetion.-..32..... +... Tea eae rs 5. 09
——-— 34,77
Atlantie terminal—
COLO ass ae Ee a ns Sei gra AU ag nce NT 7. 89
Cristobaland: Mount Hope... 43) 2555) ee Z3: Lo
—_ 31.04
Pacific terminal—
Panama cea ee Ce re ne ec en Cre a vee oe hook
Wa BOCA ee ee eae ee ere ee alee 5. 97
13.18
s almtermediave Sidines; Cle eta a ee ee lon
Relocated line:
Bermanent tracks 2c ee ae pee ee ee 4,26
Vemporary tracks: 2085 200 ss ee es a ee 11. 88



Males of track under control: of Panama Railroad... 3.0...) 159. 99

Considerable new drainage and ballast renewals were provided and
the completion of renewing a large portion of the 70-pound with 90-
pound steel rail, together with the necessary tie renewals, has placed
the track in excellent physical condition, able to resist the excessive ©
climatic conditions and the heavy constant movement of the Isthmian
Canal Commission dirt trains.

The congestion of vessels during the past winter at Colon and Cristo-
bal, when large demurrage charges were assessed, due to our inability
to provide berths for as high as nine vessels at one time, brought to our
attention the necessity for additional dockage at Cristobal, and ar-
rangcements have been made to built 1,100 feet more frontage. The
preliminary work is now in progress and permanent concrete docks
will be built during the coming fiscal year. |

Our present method of handling a large amount of the cargo at La
Boca by means of lighters is not only expensive to ourselves and the
connecting lines, but is also ancient and very slow. ‘The question of
providing additional dock space at this point is now being given care-
ful consideration. |

Our dock properties are in good physical condition, but it will be our
recommendation that future renewals of docks be along permanent
construction with reenforced concrete.

The six lighters which were purchased for use at Colon and Cristobal
were needed by the commission and transferred at cost. !

Our experiments with oil as a fuel, at La Boca electric light plant,
rapidly brought to our attention its economy over the use of coal, and
arrangements are being made to change our commissary and machine
shop power activities accordingly. We shall also exrect to recom-
mend the purchase of a number of oil-burning locomotives during the
coming fiscal year. 3 :

Respectfully submitted.

| oF E. A. Drake, Vice-President.
30 REPORT OF THE PANAMA RAILROAD COMPANY.

PANAMA RAILROAD COMPANY,
ACCOUNTING DEPARTMENT.
New York, N. Y., October 17, 1908.
Mr. EK. A. Drake,
Vice-President Panama Railroad Company, New York, N. Y.

Dear Sir: I herewith submit statements of income account, general balance sheet,
and tables showing results of operations for the fiscal year ending June 30, 1908, as
follows:

Exhibit A. Income account and profit and loss account.

Exhibit B. General balance sheet.

Exhibit C. Earnings and expenses.

Exhibit D. Operating expenses of railroad.

Exhibit E. Operating expenses of steamship line.

Exhibit F. Expenditures for improvements and construction.
Exhibit G. Equipment and plant replacement accounts.

Exhibit H. Classified railroad earnings, tonnage and passengers, Colon to Panama

and Panama to Colon. |

Exhibit I. Railroad freight statistics.

Exhibit J. Railroad passenger statistics.

Exhibit K. Railroad general statistics.

Exhibit L. Railroad freight tonnage handled.

Exhibit M. Steamship line statistics.

Exhibit N. Locomotive and car equipment.

Exhibit O. Floating equipment.@

=’ In December next the following tables, showing the results of operations for the four:
months ending October 31, 1908, will be prepared and published as a supplement to
this annual report, viz: |

Exhibit P. Income account and profit and loss account.
Exhibit Q. General balance sheet.
Exhibit R. Summary of earnings and expenses. 7
Exhibit 8. Classified railroad earnings, tonnage and passengers, Colon to Panama
and Panama to Colon.
Exhibit T. Steamship line statistics.
Yours, very truly, JoHN Apams, Auditor,

Hxurpir A.—Income account and profit and loss account for the year ending June 80,1908.

4
INCOME ACCOUNT.

Railroad: 5
GLOSS.Garnines trom OPERATION ses ees ge ee ok a Stee wee es $4, 541, 437. 79
OPerating CxpPenSesi es 2k. he eee eh Ris ee RO 2, 831,142.76
Net earnings from Operalonst. Sen. eee a ar ee cee oe eee eae $1, 710, 295. 03
Steamship line:
Grossiearmings Irom operdbion ee ae ee ee ee ene 1, 458, 554. 28
OPeratiNeseXMSNSCSS sss se es a he ON ee co an a 1, 638, 364. 95
Net loss from operation.<.-:.. 2-222. ees Sey ors nNOS SPU ota tS con Porm ue ora Sai 179, 810. 67



—

1, 580, 484. 36
Add income from— :

interest On securities: Owned. se oe er ee es era a 5, 670. 00
iaterestandwexchanees sa cn mee Ses eee a ees coe 14, 237. 59
ween 19, 907. 59
1, 550, 391. 95
Less:
Interest on funded debt—
First mortgage 44 per cent bonds— :
Eotetes on $2,023,000, July 1, 1907, to September 30, 1907......... 22, 758. 75
ess—
Interest April 1, 1907, to June 30, 1907, on 140 bonds called
for redemption and paid by trustees in October, 1907... 1,575. 00
| 21,183.75
Interest on loan from United States Government for redemption of first-
mortgage bonds, October 1, 1907 to June 30, 1908 .......2... 22222 ee 40, 280. 61.—
irst-morgeagesinikin o fund Fund for repayment of loanfrom United States Government for redemption
of first-mortgage bonds, August 1. 1997, to June 30, 1998.............202022. 91, 666. 66

Concessionary subsidy to United States Government under treaty........ 83, 125. 00
REPORT OF THE PANAMA RAILROAD COMPANY. OL

Less—Continued.

Subsidy to Republic of Colombia (pledged to March 27, 1908), applied to—
Interest on Subsidy Bonds—

340 bonds, July 1 to October 31, 1907............-.-.- -c2-- $0, 800. 00
135 bonds, November 1, 1906, to June 30, 1907..-....-..... 5, 400. 00
12. 200. 00
Redemptionsof subsidy Dondse10 46 20 ee ee 154,675.00 —
. Soe OL Ob: 875: 00
TNTBEREST ON: IOAN 65 ieee itn ee ee ety a ce este Os caine pat a eer ast an 79, 002. 85
RENTAD- OF: DOCKS: AND» MACHINE, SHOPS 552 se ees aes 26, 901. 36
$521, 535. 23
Net Income for twelve months................-....- Prop O Lt sas eae tae Manisa une 1, 028, 856. 72

——————

PROFIT AND LOSS ACCOUNT.

By. palance to-credit of prontand. loss; dune sO; 190s ee ee ee, oe es 6, 281, 330. 76
Surplus from income account for twelve months ending June 30, 1908..................-- 1, 028, 856. 72
First mortgage 44 per cent twenty-year sinking fund gold bonds, redeemed.............. 140, 000. 00
Old accountsicollected. 4-222 ee gee te I OU Chea enor Riera AL HS MEQ Roma Neca rs 949.74

7, 451, 137. 22

Less:

Premiums on bonds and expenses in connection with redemption of first-
MOLtEAge DONS se eS a te oe es Oe see ara ene na Oe Noes @ ek apace $101, 938. 47
A CCOUDUS WEIULCN: 01k 2:2 6 era Os A a re es ec eee oi 47. A

101, 985. 87
By balance to credit of profit and loss, June 30, 1908....... Gg ein en Bence mee Co yes 7, 349, 151. 35
Exuipit B.—Balance sheet June 30, 1908.





Cost of road. realestateand equipment. <1)... 62:212-20 2 2. $15, 223, 206. 57 |



| Caritas COC kai ses ee eet se cree eye ee eae eee ies $7, 000, 000. 00
Improvement and construction accounts..-...-..-.-.------------------- 273, 589.97 || Capital liabilities:
Floating equipment: i Due to United States Government— .
Steamers Allianca, Finance, and Advance. $631, 064. 73 : For cash appropriated through Isthmian Canal
Add: Commission for new equipment and improve-
Cost of rebuilding steam- |. TOTES koe aes tacts eee eo ears $2, 234, 046. 74
ship Allianca to date.... $373, 858. 62 For cash appropriated under the act of Congress,
Less replacement fund to : | approved March 4, 1907, ‘‘to pay the 4% per cent
PALO LOD Gee cee ee 15, 580. 46 first mortgage bonds of the Panama Railroad
—————— 358, 278. 16 Company October, 190 (ins. 4. eee ee 2,148, 217. 50
————— $989,342. 89 | ——_—————._ 4, 882, 264. 24
RE US Sr any Oe PEM TELSe setts ap eee eis cepene emia a areierccs . 290,943. 80 ee
. eee ae 00 Uda Total capital stock and capital liabilities.................... 11, 382, 264. 24
Ree eee a Oe cent: cold-sinkine tumd:subsidiysbONdS,¢- 2s ee ae ee 135, 000. 00
Total cost. of property -.-.-. SF SR Ble ee ns, nutes sae a aera 16, 777, 183. 23 || Bonds drawn for redemption not presented for payment:
Bonds in Treasury: Giper COM SUMSIC VaCONGGi anes t a5e es ea, as 4,000. 00

Thirty-six 6 per cent Panama Railroad Company sinking fund sub- | Fund for redemption of bonds:

SiGiys DONC Sixeecoits tem ee ee ena k Stirs ee ere cree Cac tetatere's elie 36, 000. 00 |! 6 per cent subsidy bonds......- Se geri Pee aS Renee apa tS ee OPE HELENS 133, 350. 00
On deposit with financial agents for redemption of bonds: | Fund for repayment of loan from United States Government for redemp-

6 per cent Panama Railroad Company sinking fund subsidy bonds.. 4,092. 20 L1ONs OlsITSGAMONUCATC DONG sce he oe ne eee ees 91, 666. 66
Advance of subsidy to Republic of Colombia... 8... 2.2... 2-2... 2... 135, 000. 00 || Equipment and plant-replacement funds.....-.2-.:..-.2.2..22--2-2.--- 343, 076. 88
Current assets: | Current liabilities:

@ashein: banks andsawith:acemise sce coe ee b1, 033, 268. 61 Hi Due te United States Government—

Coalkand supplies onshands 2a ao eae cans 1, 551, 770. 40 i Concessionary subsidy accrued....-...- $67, 500. 00

Due from: Connecting: CoOmMpaMless-——. -
- Due from United States Government— | OL first.mortgage bonds Isthmian Canal Commission........... $650, £00. 00 : —---— $20, 926. 36
Post-Office Department..............- 62, 8€9. 90 | TSUMMUUS Ora tis nO GpLesemteC 2 oe eee es 1, 008, 351. 83
Navy De parument 2. 265. ee 118. 86 i Coupons not presented.....-. Pe ee Sa Minne 150. 00
———_———— 713,288.76 | Accrued interest on bonds— ~

Due from companies and individuals............ Soe 100, 520. 21 Goer Gent StDSidy.SONdSEe = ae eee es 1, 350. 00

MISGEllaNCOUS ACCOUNGe te ser se ea 784, 826. 34 | Audited vouchers.and pay TOUS. oo. Sse aoe a 788, 996. 38

Unearned insurance and charter of steamers..........- 700. 00 DME TO;CODNECUING TMCS: serene ee eae ees 22, 9&0. 14

General average disbursements 222 222 2. sa ao 15, 472. 65 i Miscellaneous 2CCOUNISsoio5s ee ee a 42,273. 80

————_——— 4, 489,024.94 i Wim Paid: Wakes is se me es ee eee ei 7, 763. 33
lie aR ; ee 952, 7912 34
OL 301 300) 47 balanee to-cregit, ol profit and: loss:<-. <0 oe ee 7, 349, 151. 35

{

| 21, 391, 600. 47





- a@Qne hundred and thirty-five 6 per cent gold sinking fund subsidy bonds of $1,000 each, amounting to $135,000, issued November 1, 18&0, fall due November 1, 1910.

To meet this bonded indebtedness, $225,000 annually of the Colombian Government subsidy was pledged till March 27, 1908, the same to be applied by the company, first, to
the payment of the interest, and, second, as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an amount equal to the
then surplus of the subsidy sinking fund, the drawn bonds to be paid on November 1, after each drawing, and thereby redeeming the whole issue in 1908.

GS

“ANVdWIOD GVOHTVY VAVNVd WHOL HO LAOdaa


REPORT OF THE PANAMA RAILROAD COMPANY.

53)

Exutsir 0.—Statement of earnings and expenses for the years ending June 80, 1908 and
LIOL.















Grand: totalexpensess. 242.535:

8. Doe. 632, 60-23

EARNINGS.
1908. 1907. | Increase. | Decrease.
|
Colon to Panama: } ;
Preise ae ees Lame ee ae ilaai es $2,095, 121.138 | $1,633,374.54 | $461,746.59 |_......2..2.
RASSCNLORS Shia ce cere as 269, 314. 76 170, 271. 26 O95 0432 D0: aes
Mgt Sacre ee a ee sn a 112,177.78 98, 883. 65 VS DOA ANS ios SA Seca
BEX ERA OAR ARO sasees eee te ere ea 26, 163. 52 20, 331. 63 Dy Oo ke SOs erste eine
ET OBSUT OS oxen sed eae CR es e Oaee 14, 970. 85 11, 209. 74 SyrMOl Lets sees aia
IFEX DILCSS aes coke ere ak Ne ea mea 11, 049. 36 367. 56 LOSOSTR SOs eee eels
DOUG aT Bee eer Re ae en ates | 2,528, 797. 40 1, 934, 438. 38 DIS 309! ODF aoe So viee
Panama to Colon:
INTOIGN Ge aes A ey ena eos 747, 719. 85 LOOPODZEO Sale earn eee ace $8, 232. 68 -
PASSONGCIS 2 sere eh Nebel ee eo Sate eas 257, 5382. 10 156, 805. 03 LO 22 FOG aie ye reaes
QS es cree aa RA yee re mace ne cx 9, 870. 62 7,379. 20 AQ AD ec wena
Mixita Degen ree soo ee ees Wee eee 18, 443. 17 17, 077. 50 1 S005 Oi cece niece
RVG ASUTO Meets Aen Soe Cao aes 15, 092. 02 13, 068. 75 Qe O25 2 Tenia eos ies
x PLOSS ie oe Pes See Ror ety ay Pah Sea wr ie LG: 334. 85 588. 62 TO AO R23 |. eas nee
DS Otaee ess a ee a RO or une iee 1, 065, 992. 61 950, 371. 63 HS O205 98 7c s we tere
Miscellaneous: |
ISM Tera ee Sic Ge Oe es eee se ter 41, 864. 61 27, 896. 65 14S O07: 96: eee aac ee
Weater:suppiied Shipping.) 222.0. ssn 36, 912. 88 25, 605. 38 ESOT 00) eee eer
ental Opropertyeves 220) oe 57, 519. 70 54, 656. 45 2803.20) (ten canes
Wharfage and light dues, Colon.......... 117, 597. 20 89, 373. 09 QS 2a A ecla gece soe ele
Wharfage, Panama and La Boca......... 282, 513. 33 230, 883. 54 DLs 629.79 ee ieien sags
Cranage Cammines es Vey ea ey ae ee 121, 829. 84 57, 106. 72 OE ZG ALD ie eames
Storage and freight handling............. 116, 399. 95 50, 680. 42 Cox LOOKS Rear nee
MPelogia mle diy oe ae ee ee eee areata 5, 091. 15 3, 541. 44 L049 Glee ce eae
POVVALC LITT etek eer ae tect aaa Hees 21, 429. 75 ~ 19, 820. 50 Te O09S 25) eens eens
Miscellaneous earnings, other sources.....- 145, 489. 37 OA OLOROMG eae Gace oe 49,126. 64
ER a ee Pape Es SNe CSE iin yn ee ae 946, 647. 78 754, 090. 20 LOZ OO GDS: ere eeicerk ie
Total railroad earnings......... Peper eine 4,541,437.79 | 3,638,900. 21 O02 TOOTS, eas ate
Steamship line: : : ue
ETOLS I Ge eat aie cs e ea ee aS aes 865, 257. 56 OAD L209 =| ee ee 79,915. 13
MP ASSOM SEUSS pie ae any cree sh ap eRe cl raycst 360, 811. 99 B94, B88 n208 eas sear es 33, 576. 27
eat epee Bee cera dN SO CU Cease ear i 199, 732. 86 192, 334. 21 (53983 ODF Se ee eres
BEX DAS CALC eta eo es eos Sox ae 2,261. 44 2, 247.15 Pa 29s Ose Reh aie
PRECASUTON haere ie ee RNG ee 19,119.70 13, 675. 54 Se Aga LO eee se sea
Wamesta nd liQuiOns seis. orci ie een 9,379. 44 9, 006. 42 Sas De ee eles cea
MiScellanGOusis oe ees aaa Boe 1,991. 29 AS08053 Zils icra esas See a 2,094. 92
Motalse 2 ty ee ee 1, 458,554.28 | 1,560,910.48|............_. 102, 356. 20
Grand total earnings............-.--.-- 5,999,992.07 | 5,199,810.69 | 800,181.38 |_..........
ne ne Be ERE S WAC BS ORIN elena ia ey Rei ai
EXPENSKS.
Railroad operating expenses:
General expenses, New YOrk............. $60, 379..20 $53, 119. 50 DU 209 Oe eae eee
General expenses on Isthmus...........- 117,875. 90 86, 414. 13 SEA Gf (es| este oe on
Conducting transportation..............- 1, 264, 700. 85 1, 008, 614. 69 256; O86) 162 lees eee
Maintenance of equipment.............-. 382, 672.14 302, 958. 13 AO FLAG Olli rs ae ens ees
Maintenance of way and structures.:.... 579, 087. 96 440, 944. 07 LSSs MASs OOP |i einen B
TRIS INGE RAO eae ema ee nee 101, 698. 16 TET B 49 (Aer ence Meher aces: $15, 651. 58
Docks and wharves, maintenance.......- 112, 234. 16 57, 816. 33 DERAT Ts Bb Gee Seok ci
Real-estate expenses... 0.22.0... 2 2.2 e. 21, 256.10 16, 737. 99 ABO SS Lilie cerca eee
Loading and discharging vessels.....7...- 191, 238.29 94,572.19 965666710: eee ec
Total railroad expenses..............-- 2, 831,142. 76 2, 208, 526. 77 622; O15. 90 shes See
Steamship line: /
General expenses, New York............- 19, 563. 45 A LAO (On| eeeonmee eee 4,586. 31
General expenses, Isthmus........:.-..-- 38, 414. 32 395 008.84 ae pees oo 654, 52
StCRMOneXPONSCShn oes ei as 1, 187, 949. 03 1,101, 106. 93 86,842 1 Ocoee
USE CNC YZOXPCNSOS ako eee ey ee 157, 728. 46 133, 062.00 24 G66 34692 caer
Charter OF Steamers 5 se ee ee 234, 709. 69 104, 960. 00 1295749509) aes ees
Total steamship expenses.............. 1, 638, 864. 95 1, 402, 347. 53 236, 017. 42 | LORS Eas
4, 469, 507. 71 3,610, 874. 30 ae 858, 633. 41 . ert ene


3

REPORT OF THE PANAMA RAILROAD

COMPANY.

Exurerr C.—Statement of earnings and expenses for the year ending June 30, 1908, and









1907—Continued.
SUMMARY.
1908. 1907. Increase. | Decrease.
Railroad earnings:
Colon*to: Ranamia see Su ls Soe eases Se $2, 528, 797.40 | $1, 934,438.38 | $594,359.02 |...........-
Banana tO. Colonse see Se ee 1, 065, 992. 61 950, 371. 63 LD SO20) OS a) see eects
Miscellameous esa Seas ss Se ee cence eee 946, 647. 78 14; O90E 20192 OoreOSale eke ee
Total railroadseamings 2-59.20 4, 541, 437. 79 3, 638, 900. 21 902, SRG Geen es oe ees
Motal railroad:expenses- 232: 23222 3.22 2, 831, 142. 76 2, 208, 526. 77 G22) O19 ace ec
INCHEATOIN GS 3 neta see Se 1,710, 295.08) 1, 480, 373. 44 29; QOL OO ge Somes aa
Per cent of expenses to earnings........ 62. 34 60. 69 TOD EIS Se Pheer ees
Steamship line:
Motaliearmingseiccs se ea een 1, 458, 554: 28 TS SOO 7910248 see Ona ns $102, 356. 20
UROLALORPCNSCS 2 reac eee eee See eae 1, 638, 364. 95 1, 402, 347. 53 236; OU AZ | aoe ee act
ING EC ATTN SS ees ea cree aes 4179, 810. 67 TDS: SO25 90 See cee 338, 373. 62
Per cent of expenses io Garmings.2:fe5. 12.33 89. 84 Doe AO a acre eS eaicacars
Grand-total carminoese. oj cee snes cs 5, 999, 992. 07 5, 199, 810. 69 SOO ISI SS a aes
Gran d:totaliexpenseses-- 2 i ss 4,469, 507. 71 3, 610, 874. 30 808) 0800 Fl eee ae ake
Motal nehearMinog ss es ee ae 1, 530, 484. 36 TSS 9865 39 Gee ene 58, 452. 08
Per cent of expenses to earnings........ 74, 49 69. 44 OsUOseok ee ahem ees
\

a Deficit.

Exuipit D. — Statement of operating expenses of railroad for the years ending June 30,

1908 and 1907.

General expenses New York:
- Advertising—

Molders anG=pPOSters: acne ee ee ee ae ae ee

General

IOIEr ks ASaLANICS Ole. foe ene ee eee ee meena st

- General offices—

Repairs-and rent of. ---.-..-.- 2 Poe ear ue ee Ge rena
OTHER OX PCNSCS ie ease wie eae a ee grees mete anaes ares

BUTI CIGOWGALS Se Sa as Ne he ere eee
begal:services and @xpenSe@Ss 5:22 lo. 2. eee
EGPINICCTS; SAlAniCS: Ol o.< eon ete Sea oe ans
eS bablonery. anduprinGgin gs. ea ha ss ae Ca eee ne
_ Telegrams and cables. ..-.-.. Nea Raa Aco a eraerio meatier ey Nia cea at

General expenses Isthmus:
Advertisin

Clerks andsabtendamts:-salaries Of-2. 2 22522 ea
@able prams eee es wea en te venenatis es

eee oem eee ewe ew ewe were eee eee wee ee eee ee eee

wee eee ee ee wee eee eee ee we wee ewe

|

60, 379. 20

3. 76
75, 018. 64
1, 706. 59

PET OSTOUDATES CT VICOR acres renee cies cere cree acre rn emara liars tee OG Ae cccie crelasecai onic

PTY CTCOT COS ee Me pia ete GR re av ameas Sato
SEGSANOXPOMSCS 9508 oso a ec Oe ot a
PAVESCOL AM COUS rs ioe ee re cae sane acalle ela ag ee es Seka
_ OMMCOLSSolaPiOS Olat San oe is oe ee oma Sie ere

Office expenses and supplies. -

SlAMONehysAnaOrinhiN Oe ots eee ee ee

Conducting transportation:

SARCYVIOLDISTIN OSes a pine Sy Se kere nar ee ena ce aaye
e WlearinOswreCksenc. on 6 fe eh anes ee Ses PO
PE mpineers anGeninremMen= see ee ee
SH POUOTHOCOMMOU VES. eee Bae ee eee SS

Freight agent and clerks—

2 SOLO eee Nae i ei Be Aron ata eae praying er 2 A
Panama-andha-B0Ca.2.4... 5-22.52 .5 oe Wee naa
UnjULICS*LOWPeISOMSi es eee eee se See Sco oe
METACI ECR tal Seer eee et he es eG a ile

eeseeee eee wee hw een eee ewww eee

87. 40
2,217.14
104, 559. 26
108, 762. 69

48, 947. 56
41, 411. 22
1,093. 74
1, 681. 88

1907.

$459. 54
188. 17
22, 817. 38

3) 046. 39

03, 119. 50

45. 38
52, 866. 03
1, 269. 53

6, 329. 66

3, 489. 69

477, 85

2, 854. 09

11, 118, 53
2, 743. 87

5, 219. 50

86, 414. 13

830.20

6, 288. 44
98, 820. 61
74, 669. 41

39, 484. 89
41, 608. 70
2,794. 18

489, 32
REPORT OF THE PANAMA RAILROAD COMPANY.

35

Exuipit D.—Statement of operating expenses o railroad for the years ending June 80,

1908 and 1907—Continued.

Conducting transportation—Continued.
Labor—
Colomsstation i ee ee wD MUNRO Gy NG Ta Re eon EEE
Panama, station and La Boca......- ipl Oe dete oe eran een rent ahaa vee
@ileeGaillo we;2 atl was Ue ss a neg ee Steere poodle Are
Other supplies for locomotives = o52 2.222222 ee ec I Mabel ae
FVOUIN GIO USC s1na OTe es Nei ea eee eae Sem eae Oye naa
Superintendents andselerks se es ire ener cee err
Switchmen:syvardmenvand yard: watchmenc. 6.505. seco se ee ce ee
Station: agents Clerks; and ela WOrersin ee es ree 6 en er ee

Svabion Suppliesrand exPenSeSess sess ae ee ep en ree |

Stationerysand prim Glia O ees eee Sear em ares cc ek ee
Train conductors, baggagemen, flagmen, and brakemen............-.-.-.
Train supplies and OX OIMSOS sae eS ee eee eg aa ee
Melesraph: expensesict ie soe ses ee oe Gee BA Se ieee eae yoo ones See ar
Water Supply torlOCOMOULVeS esis 2 rs oe No ee eer ee eran ae eet
Rent Of buildings sete sci see oe eee a Aree Ee on pie Ra nan ee Ree mec
oss andidamace: treightandspageacOn. 5. os ee ee
OiUGSIGG AE ON CIOS eG ae Ge een ee eee ee ee eee

Maintenance of equipment:
Breieht:cars .Tepales amd nCNOwWals) Ole. os seeseeas ee oe ee oe
TETAS UIT TN CO i so gC 8 eae artes ese et arene anergy
Locomotives, repairsand renewals Ol-c- 61 sce cs ee ne aie ces
PASSCH Er Cals; LEPalLs-aNGaleMeOwalsOle asec cn eee sae re ee ae
Superimbtendencerand=clerks: sso at ee ease reeh ee ae
Statlonerveand. MM Gin Gee ee anes Aa eee ee eer ee ieee yee
SMOPseXPENSCS Hoe oe Sake Oe Pree ee ne aa tead ces eae Urata Breer
Shop machinery and tools, repairs and renewals of.....................-
Works cars; repalns-and TenewalsiOlecc. sae eo ce eee en ee ee

Maintenance of way and structures:
Bridges and culverts, repairs and renewals of............... Cian ene
Generalsoiices, repairs andmencewals Ole. <20 soe. ste ee ee
CLM em Gal Ses ice os eee Be ae Sea ean) Wie eae tan eo enc vis
Machinery and tools, repairs and renewals of................-.....--.-.-
HRaIIG = TEMG WwalOl mses ss oe ten eee wee aa Sees Send NRE eee ete
OAc WayezonG traGk-Te pales: Olas cca ne ee Pee ne cae
Road crossings, signs, and cattle guards, repairs and renewals of.......--
Superintendence BIOS CORKS eae ees ce eens eee er arc eet ores
Switchestandetrogs rene wals.Ol. jccc eos eee ee ee eee ee ange
Spikes and rail fastenings, renewals of.................--.--.---------+--
Station buildings, repairs:and renewals of... -2- 2. 22 st
Shop buildings, water and fuel stations, repairs and renewals of.........
DLALOMCL ys cri spo RIM TINS eerie ise Oe oie ees eee eet eg ne
Section houses, tool houses, etc., repairs and renewals of.................
AICS TENG WalsOhiters see eed hs ie a eee ae See canes eats Sera rs
Telegraph, LOD ALS cyl CLONE WalSs Ole cs he ne ye epee pe ee er creer ens
Weeds, brush, STASSOUC. TEMOVAL Ole me oie ee aes ee eee wens ee
Repairs roadway and track, other material -
employees quarters, buildings and furniture, repairs and renewals Soe
BETAS UTA CO es hs ee he Ry ee Ree nen nce Reg eee ec mn er cee

pisnalssand interlocking plamtss.. 5140022052. eee Pee Aes

Lighterage expenses:

BPO Lary Ce Wie OYyecne se erst ee nee naar reece ace een ee ee set eae 6, 831. 96
HOSP UCSC IVC Cees Sse se a ese ies reece ey omen |v Gane een Ge
PUIG HCL OMA Se oe cage eS A oo eee eae te ee ee 130. 65
ea DOT ON CaDe Ones Seo ees PPOEaS aoe A Se ares cate trance: eae aRNNt 18, 351. 87
PAGMTCTS aLODAINS AMCs TOMO WalS Ole c.crsnr ccs tree Sees eerie ete 4, 807. 16
Other lighterage equipment, repairs and renewals of...........-.-.-.-.-- 237. 72
SS UID PEL CS ese eR SRE Oat ce ty eee Teer i ee 8, 136. 66
Superintendence and clerks. ...:..........-..-. SRP ects Sette cae bp eae 3, 283. 91
SUUSISUCMCO gL OS i ee ee 2, 241. 00
USS repailsand TENG WalSiOL cs hc ee ee eee ee ee 8, 715. 62
Tugs, expenses while out of commission...........--. eer g ce tis Om ae eter eps un ea
Wages OUR CLOWY Seo ee ese Oe SEI Gie WOR Crna ahr Seen ces me ayn See 30, 889. 21
Wepreciation of tues an ddighters: 2. he eee se ce eenaiete .23, 122. 40
SDN Ges ee eae ee Oe aetna tri pe SOU CAI eRe tneda rt erg nee oe a 101, 698. 16

a Credit.

1908.

$247, 331. 83
129, 878. 61

6, 203. 19
3, 573. 68
26, 112. 09
20, 477. 95

136, 722. 04

90, 507. 19
31, 821. 20
19, 142. 91
97, 831. 96
30, 222. 16
66, 356. 07
a 1,805. 87

799. 92



98, 247. 65
5, 430. 91
84, 271.95
58, 668. 89
18, 233. 22

1, 454. 17
47, 229.15
36, 715. 48
32, 420. 72

382, 672.14

6, 634. 16

212, 445, 39

1, 688. 60
12, 269. 41
10, 065. 01
28, 562. 17
31, 597. 7
18, 057. 79
3, 952. 30
330. 97
47, 767. 62
25, 984. 73
4, 629. 76



1907.

$165, 424. 38
105, 998. 55
5, 465. 31

2, 121. 42
17,719. 48

126, 414. 38
73, 845. 71
28, 071. 39
14, 680. 87
81, 863. 21
28, 185. 34
51, 854. 97

@ 213. 97
599.94
28, 044. 99
5, 321. 26

1,008, 614. 69

— 108, 762. 79
3, 004. 18

83, 089. 95
33, 152. 32
16, 787. 43

29, 480. 40

332, 958. 13

15, 378. 55
5, 167.74

180, 187. 61
1, 527.55
13, 910. 60
7, 657. 30
16, 850. 41
36, 123. 87
16, 753. 28
1, 907. 27
495.54
29, 844. 52
18, 781. 59
4, 289. 00

440, 944. 07

6, 785. 76
2.00

62. 44

12, 366. 25
14, 373. 85
476. 62
8, 354. 94
3, 272. 60
2, 401. 47
6, 133. 96
4, 95

28, 048. 55
35, 066. 35

117, 349. 74
°
-

36 REPORT OF THE PANAMA RAILROAD COMPANY.

Exuipit D.—Statement of operating expenses of railroad for the years ending June 80,

1908 and 1907—Continued.

Docks and wharves, maintenance:
Docks and wharves, repairs and renewals of.................../.....--.-
SFP UIT CGS eee aes ee GH aye Racine a ar REG MS Rs be ace Pern ace A
ish tzhouse- and harbor Oxpensesces: Sos cose esa ek eean ed aye

Real estate expenses:
‘Buildinessrepairs and renewals Olc2 sce aren ee eS ct.
BETS ULTRATEC Gea Osea ea ak SSE ACSC ete EN AG urate aa tea ct
We golrand- OvWermexPONSesss wesc eee Cae ene Ey oe Sk a
Wiater suppied:to com pamy 7S Oulldimngse 6 oe SFO Rs eee ee

Loading and discharging vessels:
Cranes—
DUP PHOS ee aes ee ORG ae A da aru wa aval Se wee eo
IROPAITS ANG -TENOWAlSc 2 ees ae nee oe in ei an wee oe oem
@MOTAULOME Sas Sa eR eee eae eae ee meta Meroe Neco evn Snes cata ae
TY SULP ATI COs ses recite as eee lah ae cheer ROR eee aye Shu See OL ata
Supermilendence and clerks s2 ys i see i eek ee
Other:sipplies: and expenses! ates se eae ene eens ee ete

a Credit.



1908.

cme

$103,529. 33

6,047. 65
2,657. 18

112, 234. 16

128.70
82. 38
21,045. 02

21,256. 10

20, 484.78
30,121.99
124, 260. 99
294. 66
1,723. 88

14,351.99
191, 238. 29



| 1907.

$52, 369. 35
3, 023. 83
9, 493.15

57, 816. 33

a 1,356. 38

16,737.99

20,805. 41
18, 468. 11
52,248.94
147.20
1,371.08
1,531.45

94,572. 19

Exuipir E.—Statement of operating expenses of steamship line for the years ending June

30, 1908 and 1907.

1908.
General expenses, New York:

Advertising— .
HOLM ETS: AN AZPOSTCLS Sener se sae oete cee lame Re Sara he ote, Nuc nse eae $31. 02
GOT OLA se Se IL ence ee ORG Lega ocean oat 132. 42

@lerks salaries Ofersn ae nt a in init eas ar err ioe oh coon eier 8, 905. 53

General Offices—

Riepairsran Gren: Of ach ees ts San ae ices ee mena eranen Sec anes 1,515.16
@ therexp CNSes ais Sone eee an Cece e me aa oie cig Sma 1, 059. 68

Na OUGL Gra aS Be a i aa a 1, 421. 48

Wepral services: and ex pensese ces esses te eee eee nacreomie sia ge 29. 46

OMiCerssSalari css Ole es oe eee ae es error ern cna uae peyaee cree Spa 5, 631. 82

Stationery and printing IIS Deas Se aycos Gee Ysszear stage tare ech tae gas Gra sac Sue eaiats ata ea cyl 100. 27

Melesrams: andrCapleserc ces eae eee eee airs orcas cre ote 179.61

Motalec ne ceca Coes ssn a ee ap ea Seas ae 19, 563. 45 |
General expenses, Isthmus:

BACCO ULS LEN Ouse pete cts ae rgrs ante Sac, cone area oe os ke ieee aaa eiots aavens Guava Ai gatliere res Aine mre a 1.04

Clerks and-atiendants; Salaries: Of7 sss cre aac Saree Sods se he ane erie: 24, 280. 49

CALC TTT Sie a a Br SAE eee Rare econ anv maecinys aneta rane gee eecie arte aren 554. 26

FEL OS PIL ALES CIV COs cisco ace ee cra cece Ninna rah eI Pe RUIN URrUnar a lay ieee Seis me

ANCL CCIE AS eee ecg ere Serenata a can ia hi acarera role ite Sacre fal eee anne Seater NG - 2,348.67

dl Dy stearall Gb-g B25 OES eke ee Rs Se Ne Ee car a cere oar ee Re cone eae 48.64

IMEISCe lat COUGH ian ioe oe eran Meare kd hun cateta gaia Sealer a ia ere ar om 3, 944.05

HSCONSs SALATICS HOD ces ie eta ae nna iii ie ain chang ani ne roters etraato rke 4, 220.66

Office expenses and eepples SUSE ac sre Hate Setanta rei me DRT SU Rreye cee unt cgra 1, 561.20

DltahlOneny, aN GsprinGing soos wee sesh: cutee ie ee Semen ae 1,455.31

CN ea ies ee ail omens ata rena g aici aioe: Statala Piankia wie Ug Mae a ake 38, 414.32
Agency expenses: ,

FMOVOENLISING SNOWSPADCLS co skec cee cece terrain nos wil oe steel armen Snare 3, 125. 34

Buildings, docks, and wharves—

ROPAlTSTANG TENG OLGs ANS aie en shen ccc eee kere sce raner 51, 477. 41
OGHETIOX POT SCS: irs eee ae een SO Sa Oe ac ia gti 17, 424. 47

Commissions, passengers....--.--.-------- Sefer ce ng Syst SIVA nN SE aR eae 889. 19

Us uranced. 23 3 sae AO iaee ORME Ae ean rs nets SARTRE RISE LOE Ciiksg eis la a neNase eg! 1,440. 08

Makes Co Keyan ie he) ees ele ee Oe te ater eee ene ane ih 2,360. 40

Tabor, general es: -o6es 2 fe ea fare peer areraivaratay= bara cenfatac an, iacaenle cise emer 22,021.33 |

egal Services and OXpenses
Ossands Gaimage sa gees eee eco ios SPs Sie ie tetar at Sib crate senna rata 881. 21

Salaries of aventsian di clenkou< msc eect eon eer eee nanan 49 , 496. 78

1907.

$217.37
95.96
10, 321.72
1, 934.61
1, 619. 85
727.78
1,380. 13
6, 821.03

799.37
331. 94

24, 149. 76

18. 87

23, 828.95
550. 26

3, 088. 35

1, 459. 22

226.69

1,315.39

om 358. 62

39, 068. 84

3,536. 46

bie
40, 468. 7
12 407. 65
1,173.32
1, 447. 62

145. 73
46, 513. 67
REPORT OF THE PANAMA BAILROAD COMPANY.

37

Exuipir E.—Statement of operating expenses of steamship line for the year ending June

80, 1908 and 1907—Continued.

1908.















1907.
Agency expenses—Continued.
SUATIOMEST Vs Bila Ce pom Gita eee ea cra tae Sec ee me Ocoee ye $3, 615. 32 $2, 279. 89
Melesramsamdscablesen ys ees wn Ge os a wer eee emanate cp seem Rie a 395. 86 311. 00
ETD OSS hee NS ATMS OSs SoC) eta RAIN gL Saar eNO SOS Eee ENC 1, 200. 00 1,200. 00
OUtsidecagen Close wore sas ei pee ia ce Mieke aa atin Rant eA ret 1,752. 22 2,396. 04
ESO Tied eh Re eS Ee RSA es andes Re Ie caret UaE yay nated Gs a eee RSS ERY coer 157, 728. 46 133, 062. 00
Steamer expenses:
OLAS tH Se sys see Sra rae eS nmrmes entire a ee Rare lat, cinaan eB Ue Satan et PAR GV Ness tae eta
@ustom=housevandeporli Charges wes ee ee ee ea es 11, 895. 45 13,004. 98
WI) ORANG EO OIG IRS HEN a OO. se ah Oa eye Ee 3,618. 49 2,021. 08
Hauipments deck: de@pantmenticc cies gs ye Se cee On eee 12,079. 93 10,395. 97
Equipment and spare machinery, engineer’s department..........-..-.- 3,000. 31 6,878. 95_
Equipment, commissary department..............- Mea a ee ai catam dame 16,627. 28 20, 453. 98
SEUCTO Tt cee eE re eeee ee ea tee ad 210,530. 70 194,050. 66
Hee dine: PAassenGersranGscre wee sur secs sets ee ee ea ogee ne ens 151,148. 26 141 , 534. 89
TCT denials eases eee eae erie sae ayoeiccee cola DN a ees Ce Rape sere EG 5,637. 02 5,339. 49
In jUPIeS COsPORSONS eae k kee eee a cian eee t Akad holes sate by in tie 188. 28 145. 83
AWOL ODS CALS ORs eee SUE see Oe MESSE teal ses Cant ate ete AGP cere 151,153. 20 187,643. 44
Wa bor On Coals cn seas TEV oe vk eat a eae eR On aramaN eveitinty eaeean Oy Ta 26, 508. 82 . 28,019. 24
TSA DOTONVASH OSE iii ie as Gere er acinar Aeneas Sie ea ais peda ons AR Ne 1,628. 45 936. 25
bosssandidamacens sn. Foes Gere hii hea ie de ears scar none Nang se 14,071. 27 11,119. 26
OilvanGsweasteuc sea on cise Se nr iy vate mento OL aya ig ar LARGE 4,370. 88 4,360. 38
RaintineShipsSiDOCCOMrs ck oie ee ce Sec Ne Gwen tern UN ioe okie seat 2, 483. 25 3,164. 70
Pilotaces an Gs LO Wael ee cages ein ein ter otis Sanu annce Siena reg men uence 16, 824. 60 14,323. 99
QV IAT AMUN Os ohne sete ee Ten eA ice a acta ee ene ere AY ue Ci sia RS oaas 717. 00 911.00
Repairs, deck Cepartimemyns rca sce ss seem Ue ee ee Veni el ae 52,166. 41 26,259. 58
Depreciation and extraordinary repairs, deck department.............- 28,130. 83 23 , 870. 00
Nepairs; engine department ec: <2 oh ERIE SU Mie Ra 87,227. 96 54,918. 07
Depreciation and extraordinary repairs, engine department............. 14,065. 43 11,935. 00
epee commissary department... .. PN FG es omits 22,838. 61 | 16,127. 96
ores—
Deeks Op ar GVO me sais iets ee ee Nay ii rs Ber ars tae foe ayumi 10,715. 01 13,277. 45
PEI PINE GCOPALbMOM Goss eecoctn case cece wien Mee renee otis Wen neat 10,254. 37 10,228, 44
Commiussaby: department secs. 2a ea ee 5, 492. 70 6,165. 91
SULZEOMAS Ae par tm OM ess aN oes IN eo ay et nice Ne 723. 75 648. 56
SLALOM VAAN Gs DUE UI Se eee ein Ee er Se a Salt Wi ee es Meee ye anes 1,851. 01 1,323. 59
Melesrams andsGaples sess wowace Wao eerie ed nek ech G ns a Hom oie, HeOZe25 4,344. 04
IVI DOS eee eee Be Sa SN Sc ei Roane e Uaee oy Gaelal ae aun ed Maur per Gate 221, 646. 80 207, 869. 75
AWiSiCO Its eee SRS seis meee URE OE Ser es es cn AP amen ea tutto ln fear 26, 256. 36 16, 583. 30
VV ST ea a ashe ae Oa Mates ol oes Ae ae lu sor aah eta 7,440. 16 6,771. 33
VN SURAN COMA Ra Swe ee aaa eronete ete nan peice sian eee! 61,354. 74 56, 484. 86
ET OG SR ers Ba ecto ee Oe EES io a cet ris 2 eam eR Ua any 1,187,949.03 | 1,101,106. 93
Chrarterotcteaimers! 35 @ ccs. Teale en ae ees 234, 709. 69 104, 960. 00
Granditotale css TEC ETE Se at yea ee Ere 1,638,3864.95 | 1,402,347. 53



Exursir F.—Statement of expenditures for improvements and construction for the year

ending June 30, 1908.

Locomotive and car equipment:

IZ OCOTMO LIVES Meee shee ey yee ce ie eee eer coe ai eee cen oe kere CGR gel $37, 774. 80
Rassengermand DOx:Carses so Sen ees en | SUS ae es eae SCN 171, 312. 03
NS ORE CA TS eo See Oe ERS, Aeon SU nl uel Os eran ONE ey Era Ura 50, 357. 00
Caboose cars. 32422232. PONTE A ORAS RSUIC SG say OD ve Meese ah Coa ty US Papshesnae re Mees aiaye 11, 909. 85
TeChOns BUCY rus WLECKING CLANG ss cen ee eee el ea 337. 58
HRCIMIGOrALOMCALS ccs eee ee ne ee ae camecns te 2, 670.5
Buildings and other structures:
Duphicateice plant. Colon ss.0 sec eae ae ee Ne rie yeaa 101. 00
Residence: quanan tine oiceh <.- eo. Ses olen ee ence ei en ca 94. 97
Office building, Colon............ OTe SR ie Osta i aes OE a aed RR eae 41.95
UMUST rT CL Ch nds Rn ee RE Rn at rat tes cs ete ae ea 72. 09
Sechlonshouse Gatun ne eee ee ee ee ea eae DOO
Water-closet. Cristobal cold-storage plant... 2.2. 23.25..2.50 ee 2, 150. 90
One4-ramilyquantersat OristObaleccs 2 200 Se eo aie eo 8, 571. 62
Standard: sechiom and toolhouse, banamann. 0208 ee 423. 04
Lavatory building, Cristobal commissary..........-....-- Pte (Gla eeu See ieee aye 1, 482. 54
Standard section and tool house, Pedro Miguel......................--..--.-- 1, 215. 28
ING WaCOal OG. War Boch ostin eo erat Ne here n n ee ee a nee ec a 63. 45
News trelahtahouse Ghmipintes ce Oi eee ee ae 2,166. 41
Hextonsiony wilatk INO: 4 COlOMst ss 27 se eee eRe 17, 678. 62
| Cake bakerysand macaroni manutactOly. i020) .o2 20 ee 6,528. 05
diwo-stovy, 4-room: schoolhouse onsbeachi =. 9) 23. es 9, 763. 01
Mamiulyequattetson Superintendent... .eeek cen rien es 8, 078. 47
_ Conversion of old storehouse, beach, into 8 family quarters..............-:.-- 12,198.98
Addition to storehouse, ,Oristobal-< 0 2 a ho ee as 9,175.13

$274, 361. 82
38 REPORT OF THE PANAMA RAILROAD COMPANY.

Exuisir F. —Statement of expenditures for improvements and construction for the year
| ending June 80, 1908—Continued.

Buildings and other structures—Continued.

Remodeling building Now2> Colona 22 2s ee ee ace ere ee $4, 125. 42.
Addition to Cristobal commissary iyareno us Sa Aaa ere ge ao ine eco ae EO) COUN LO
ENCES ALOU GTC OLOM COCKS ere ee I eee ceo Geo 864. 42
Paint Storehouse Cristo D ala sae ccs ee here at sae ep ane eee oe ee 751. 26
Casting and pipe racks, « aim ditrysa: te COLO TEs ee SNS a a yh OU ca Rn erp ede ee Cone ieee LN Se Rat 15, 680. 24
Bakerycab:COLOMn ras esr oe ee inne eee at URE can eG aay is em 2, 443. 43
Remodelingshouse:23* beaches ee RS me te eae ain ine os 4, 608. 54
WA DOLELSS: CUATECTS SOC Ke Sree ise Nas abot ees pte any Sern a ON ious 15. 41
GoaTkGhite Bs ee ea Rais etn us UI Say asa ea ee eee AEa arse cy 9, 375. 00
ART ta DLOsFOriStOD aAleyand serra sl wore ce ae Oe cw een le es ye nr cen oe naan 218. 34
HIN FINEsHOUSO; CTISLOD ale ane Sie ee oer ee ey Cent eee eS < BPE dees 3, 336. 57
BRermanent remigerarineeplamt soso se a Geen ein Kos ee ee ekeca Se ou eae ce 94, 347. 98
Duplicate electric light and power plant, La Boca.................-....------ 59, 825. 53
Wiater-station.“RedmoeMicieles wos! etal Bone ema Ga oe a aC ee a eae 1, 067. 51
Addition: to new: Storenouse, Cristobal Shopsss-s =... <5: e550). eet ee 2, 797. 81
Boiler houses Cristopalshopss.<. 5 sess ea ees oe oer te See 7, 540. 35
Purchase and NEPAlNS; <4 HOUSES; “HOXARIVCL ss: cee cme kee Ree a eee 5, 877. 25
Standardsdepot.s Gia tune roe Ss ae neha eis St ehere eects meee ee 647. 50
HLCM SIONFOlHOUSE;= CLiSUO Dales iee Se xe Sy eens ey ee Se oe See ae 821. 64
Waits la AB OCR eines srt eee Se aa i neater neta nc ea ts Sia ree wae 5. 82.
sD ry kiln and: paver TOOM.@rmSvObaleyanrdststs0 sce aee ts ae ae ee 126. 07
Alteration. Colon: passeneer Staton. ee ee cree ns NR ete a re ec 2,977. 46
Oficeior- general Storekeeper ass se ae ee ee ao Pe Se Ss ee 2, 182. 29
ROOF Over Casting plavionit. a0 is ew ee i eS eect es 345. 43
‘hres tle:at-cold=storage:planiisc e323 See ee eee Se Ree 2,082. 67
Oid carpenter shop intoramiilly. Quarters:. =. 9 oo eee eee fi 037. 64
Marine: boiler, Colon electriciight plant: 222s. a ee ee es 4, 225. 94
Oil tanks @nristob also HOUSe =: = see re ees eee oe 8. 65
AUT testineaplamt.: Cristobal Wand ss eee he Nee AN a SN aes 750. 53
Double:house; Colonsbeachw sks Ars eee Se Se Serta eer Sas an 9, 336. 90
inxpension electric light line; asboca-to, Pandmarsn ssa. 2 e e 1, 365. 26
METI CHD AIS UE LOS eee re eae Ee OAS Sn epee a heer rat 1, 650. 64
Be SER eer SU LOS aes ee meee eee oa a aries Rec ae ng acacia a toe 658. 09
OUR ARV ISUOCK WATS ci seo, eS SN Gre Sy pes cern oo ame ara Sty te ee Sagan eee 241. 08
sO ficesbuilding tons ME OSs. CO; ar BOCis. soe ses ee ees ee 1, 408. 33
Mt. Hope Oil Tank and Pipe Mine ss eek ee 4,167. 61
TE TECtION: Ol. TECOLG NOUSEsCOlOM eres aes See te es Pe ae ee 454. 61
$337, 505. 26
Floating equipment: —
Re ou Gimorsteamer ATT am Cases nies eer ia SN Ge ae ee Sa 37/1, 032. 36
ess TeplacemenmibaunNG soo sss se es eas es Ca ee ee en eet OO e AO
: 355, 451. 90
Stewards rotnveratineg plants: Din anes: se as Soe ee ee ce 2, 895. 00
New-lightersat: Colom ies on Sete BONS eae ce Sen nee oo eae 204. 45
a ODO OO s OO
New sidings and yards:
ING WarVal Gi @ ris GOR ers ee ese ee ee eee ee AOS Scene Sd Uk eee a 180. 72
INewshousestiack sea tOeMi uel. st. naan oe ee ee 89. 71
PTAC kS-an Gi CLOSS-OV CNS MatAC hil: ee i ae ee eas ee a eae 882. 33
FFROUSCHURAGC KCNA Oe rra nL eee a ai acer eee ace Ne ese ese sence eee Ce ed Soe 45. 23
ING Ww. passing track eG OrcOnM ans tee Nee ae Oh a ee ete eel ae 6, 997. 63
INew, House track and team track, Was Casca@as- 2222 225.2 oo eee 4, 683. 57
Silavlonesiding-amdeCLross-OVEL; eB PLC ree eno ee tere eae econ wee 16. 97
dadustrystrack: «Colon.-W aener COmssanes es tece cone ye oye ce 541. 86
BEWOSSLGI Ia SS sly OT ADI osu oer se/ eye es rete ye ec ear ele ace cie Ne ceca esis Sian 2, 082. 48
IN|GiWe CLOSS-OVCE te DAT DOCOS 2525 sata ate es in ae ee ee eee ee eee 116. 46
urn -Out SOudh prideesNO:lo.=Gaulibe e: se ees eee nea reer ees 390. 16
Track to carting platform materialstores: (0 1, 622. 44
Mracketonpoiler Shop: and StOreHOUSC Rao oct eee re crore Ge ere nine vee 1, 798. 59
Pra ckst0; COC Kida aa eae ue ere ee ee oe AE ibs eyatanie ie area veninece Letjane arate 5, 978. 47
pRassinien (racks sUrOlGS = soe ion ome em ees syerrcc inmotion mes occ va eins fre cece 1,443. 71
New siding and GUTM=OUb ss GacUMe ares Scere ee pee ne ee ee eae 691.93
Hight-track connection with eats at Cristobal rOUNGHOUSCS -- eee 1,641.76
improvement: anama- vandseek eee coke emcee he enc 87, 406. 64
Commissary track, Pedro Miguel Be RPE eee Mace SS lane PLC HLM Ae OCEAN NU 514. 38
Construction of spur-house track. back:ol- Gatun Station=. 25:4 35.222. 2 eee 810. 51
Mayinostrackealonvside leadwto dock 14 ClC.2 >. 2s eae ee 2,193.91
New setout track, ‘Cristobal SIO Poa ras sas ea Sea aera ee saree cry ees 1, 775. 92
Relaying track between Tabernilla and Las Cascadas.......................- 5. 64
HNew houseswrack: Culebra ee ae setrs oe Be oe son ate aay ere AES oe 1385.13
Colon storage track, CAT BCR ec eee eee chee saraarm cher eee ys aera ss area 811. 38 |
Commissary stack: @ulebras 8 ee 10. 30
Filling space between two material tracks south of material stores...........- 796. 65
Moving cross-over and constructing interlocking plant, Culebra...............- 184.11
Zt NG WeCOoChimyan ds © Ol OM oa ce ep ce om i aes eee een 6, 268. 81
Commissary track, RAS Gey es OC ay sera eae See ya ere a eet ys Spt cee ee 60. 05
Extension siding and construction cross-over, San Pablo...... Ree eaten Seep a ~ 600.10
Material yard Mount EO Osseo re eee ee oe ce oe ‘26, 594. 51
———— 158,567.61
New machinery and appliances:
Ditchimomachiness: seo oo oe ee ee Ceo cia een acer es 1S 733
Block-off and interlocking plant, MATL OVS Se pei aes ene sae ie 1, 423. 07
Converting four steam cranes at La Boca into electric cranes................-. 2,976. 05
Blockhouse andinterlockine plant, Juam Grande... 2225.22 225.55. 2 36s. Se. 4,520. 86

Shifting track and installing water crane, Tabernilla...................-.....- 738. 38
REPORT OF THE PANAMA RAILROAD COMPANY.

39

Exursit F.—Statement of expenditures for improvements and construction for the year
ending June 30, 1908—Continued.

_ New machinery and appliances—Continued.

Interlocking plant between Bas Obispo and Meraenin Ca SOR NN eae i:
Interlockine plant-and: cross-over, .Gauunlen. 25. 9a ee 2,039. 69
HICCELIC Cranes las BOCA swiatile se er oa ae ee eee hae ee Se nay Nera 53, 020. 23
$65, 900. 93
Miscellaneous:
Road: Colon. tomo uit yElope se so oe eee Share en 11,306. 31
ING weroaditoul ai BOCa aie ce com son eeu ae et Neen ance tela a eee pe 1, 459.76
Ri prappinesbeach, Colom ioe ee ee eo ean a parent Sire amity ena 8, 296. 00
Filling lot between Commissary and Bolivar streets............. Speer eae 5, 803. 42
sidewalk, old: storehouse-to. Colon Hospitals. <2 cpeee es es 1,200. 45
Filling fire zone and vicinity, old terminal, Colon:.:.-....-....-.-..22.... 10,245. 96
: 38, 311. 90
1, 233, 198. 87
Less credits for property sold and adjustments in construction ac-
counts:
Property transferred to and paid for by Isthmian Canal Com- fs
mission—
Sixmewelieh terssat Colones ssc ses i ce eee $123,772. 94
Materialcyvard: MounteHOpG seit. ae oh eee 43 824. 08
Hlectric cranes, a Boca witarki.s. 2-222. oe 83,897. 05
251, 494. 07
Adjustments in construction accounts—
Locomotive and car equipment........ 2 ate eee a gee 1,319. 82
Biunldings and: other Structures... oa 4,688. 41
INGw.Sidings amd yard Syste eee oes 862. 63
New machinery and applianCes: 2932.2 a. ee 997. 86
Ploatingequipmen ts 22 sek ee ee eee ee 1,854. 45
———__—— 9, 723.17
— 261,217.24
GET CO Ve ee ES oo spss NGA ec GaSe A ae nen Cra 971,981. 63

$1, 180. 95

Exutpir G.—Kquipment and plant replacement accounts, June 30, 1907.







Ledger 3
eG. Rate. Period.
Locomotive and car equipment: Perc
BO ORCAS oe. Ee ee OI Rae raed ery) ayer ar ae ga coey [ene eer nie Meee (eee eet
MARTI QU CATS 5 eee 2 Se Ce eeu Sodas aia t Sp | ee guia us: | erndea a Ge ees mca na EEO
SOP CORBI CATS es ee SO PAE SEN Zon aa iano levee a yeaee We Dea dea fae Gs = IPG Sonn Wane tegcd co ac
ASCO CRE CATS! pie ea eee cae Og cis Pea npn pute | Coe yea eel med Sec Sl Re SN
De WiAUOTSCALS ck cee Bete SS MEE SEN SL ea per Ray ee anes ee [pe nl [ea ee ae
PED AO SAR OKCAT a eGo Se a aN sa Se BIE Wie gL nn at re ee ANA Naa a ei Ge le nanny
ORG TESS CAT oie ro a eee eae are Oy Sa NG MST [eae Re a pent oe pcos a mea aya is
TS CADOOSC CATS es See eer oi oe Wt ea Leg eee nt ce ne | a a oe ne Ge
IE (Gps) OU Loe We era eg le ea ge NA eS EO ead Oa Cae aes
TSDOCIC {Cale =. 60 S5 LEY OSS] S SLE NOE ees ca ERRI [eee TSU ce eee | US nn len gee
Floating equipment:
Sie aeAlitam Gare see e ea Oe a owes oR ee ene See $512, 431. 13 6 | 5months....
8. 8. penance Se ea a ces ee gh oS ee Nene eee Ne 221, 410. 39 6 | 18 months...
RE eres Seg yee ee oe tains Ue a eel 2OOn ao Lees 6 | 12months...
5. 8. avancs Bi at UE GEE ieee SERS WL eae 221,186.30 | 6 | 18months...

DOE eS Ue ea Cea a ee aN acca ME 238, 480. 05 6 | 12months..

PRU SB Oly Ane eae eS ae ee he IE ae Caen LO O01 (8322: Prior to Jan.
1, 1906.

EOS SO io agg ae ce ok ee Cen a aN Sus 70, 001. 78 10 | 30months..
ERIE OriS COD alles ee eek Was ses ee ean kage on 57, 942. 58 Oss do. cs
ish lersiatek an Qing a ee ee ee 162, 999. 49 LO cise done

Plants:
At Colon and Cristobal— :

Ti@ @urmiay ohm g se eed cyl ecae ds se meseeiceta apes oe eet peta y me rea 17,018. 47 6 | 16 months. .
Coldistorage ssc. fs ee oe 3,192. 04 6:1 month =.
ND Oe ee oe Na SSE) ae Reet Sis Na 3, 682. 24 6 | 8 months...
R@irioe natin Oe Gece a GR ON ea ee 319,092.09 |... ..- 14 months...
SOTA Gm Ese Dasiees hci as en ams cee eam eeu eet g ae BO, O40 20s loess goes dOme a s28
TaD yan ORs ee Ae ai ene eae eee DSr OLS AOe eer age doesn
Pee light amd: powers: 22 eee a ee 14, 583. 21 8 | 11 months. .
es aia te are ihreaa taro eee eu eG unt nt 5 glue ere tse teem bata uaane LO Olerl sce VO TUOMUNS
At La Boy eleciniculightand DOWEL: 2345. 18,180. 86 8 | 26 months. .

mE ANCOneCleCtnicdioh tS es ve eee, Gene ee Ue 5,083. 19 Sales dors.
UNO GENE ce ese a aces UPN titi OPES Se NS ame pele sO arias gaan Ne ook oat con ern nae ee

GAG GO tal eee ee ere ecco e neater es Ene eae ESS Ae on | ec aa ate ae ee : Siaee





Amount.





$37, 018. 00
12, 990. 00
6, 840. 00
660. 00

580. 00

1, 800. 00
280. 00

- 350. 00
290. 00

380. 00

61, 188. 00.

12, 810. 7
19, 926. 90
14, 305. 92
19, 906. 74
" 14,308. 80
10, 755. 12

17, 500. 45
14, 485. 61
40, 749. 87

164, 750. 18

1,361. 12
15. 96
147, 28
93, 122. 38

872. 39

117, 138. 70
343 , 076. 88
40

REPORT OF THE PANAMA RAILROAD COMPANY.

EXHIBIT H.—Statement of classified railroad earnings, tonnage, and passengers, Panama
to Colon, for the years ending June 30, 1908 and 1907.







































































FREIGHT.
: Rate per
Tonnage. Earnings. On:
1908. | 1907 | T= | De | roo8 1907. | Increase. | Decrease. {1908./1907
crease.| crease. : : : |
Through— |
To New York..| 63,791) 64, B60 569, $186, 907. s DOT OO UO ise ee $10, 690. 80/$2. 93'$3. 07
To New Orleans Was 1D eee Gorgias LL ES6G odie eae lite
> lo Europe. 2.2: Ol O77. 69; 0001 21; O20 ac ee: 312, 021. i D387 O88el 41/4; ASBueo ae ee eee 3. 43} 3. 41
Motalee. Seek 54 gs0| 138, 917 205 963) sates oo 498, 995. 28) 435, 185. 92) 63, 859. 36)..-...-...- 3. 22\ 0.20
Local— - ee ee ere
Commercial—
La Boca—
Panama..| 12,257) 11, 458 TOO Sse | 6,208.47) 5, 668. 48 HSAS OO lee OSs 3 SOU 00
Panama—
Colones aloe OO Gs Wylie ee 41 49, 099. 68) 56, 517. 74)... .- 22... 7, 418. 06] 3.12) 3.50
Isthmian Canal
f= Commission. - 107, 852)180, 947|......- 23, 095} 193, 421. 42) 258, 680. 39!........-- 65, 208. 97) 1.79) 1.98
Cjompany
eight. see. ALS GOGH SN 7ai lis Ot RR ie enhemral ps Me encene eo Se Wee apes et et Sale Ul etc I ae
Motels eas 149, 468)162, 297|.....-. 12, 829) 248, 724.57) 320,816. 61)...-.....- 72, 092.04] 1.66) 1.98
Total freight ./304, 348)296, 214) 8,134)....... 747, 719. 85} 755, 952. a ese ues Seay ara 8, 232. 68) 2. 46) 2.55
|
MAILS.
Weights. Earnings.
1908. 1907. Increase. | Decrease. 1908. 1907. Inerease. | Decrease.
Pounds. | Pounds. | Pounds. | Pounds
‘To New York.... 147,185 | 123,723 23 AGQ Eee $7; 402.65. |$5; 969.72: $1, 7382.93 |... 2-2
To Europe....... 4 821 DeOiOo ea ce es 849 415. 45 H9OEOS eS See $183. 58
MOCA oe a Sees 48, 794 7, 363 At Ag Tg eee es bo 52 810. 45 O40 EO Ti eee as
Mota eees 200, 800 136, 756 64, 044 eae | 9,870. 62: | 7,379.20 | 2,491.42 |...........
TREASURE.
Value. Earnings.
1908. 1907. Increase. | Decrease.| 1908. 1907. Increase. | Decrease.
To New York. ...|$2, 131,346 |$1, 295, 429 | $835,917 |........... TALIS $55 172: 37 \$2,009. 41=|2. 2 See
ae Ereee Ses 2, 060, 987 | 2, 223,883 |--..---.-- $162, 946 Ge 331.60 | 7,278. 96 DONO 4 sees
k 4 Commercial . . 9, 605 LOS G054|2 seca 1,000 18. 64 DAS OO | sites Senne $6. 28
&. Isthmian Ca-
Te a er ate SOD. O00 een SIO “O00! eevee: 592. 50 See eI: 592. 50
4ONiEN ee 4,201,888 | 3,924,917 | 276,971 |.......--.- 1530925021135 008275.) 21023027 ale. cues ees
REPORT OF THE PANAMA RAILROAD COMPANY.

\

41

Exrisrr H.—Statement of classified railroad earnings, tonnage, and passengers, Panama
to Colon, for the years ending June 30, 1908 and 1907—Continued.





f





















EXPRESS.
Weight. Earnings.
1908. | 1907. Increase. 1908. 1907. Increase.
a aE | : i
Local: Pounds. | Pownds. | Pounds.
@ommerciale. =. 2,563,919 | 99,152 | 2,464,767 | $15,779.08 | $588.62 | $15,190. 46
Isthimian Canalis 26 ous: QU ASN ce ere 277,178 A000. Oielee erna 1,555. 97
ETS OGL ei ee 2, 841, 097 99,152 | 2,741,945 | 17,335.05 588, 62 16, 746. 43
= | rs
BAGGAGE.
Weight. Harnings.
1908. 1907. | Increase. | Decrease. 1908. 1907. Increase. | Decrease.
Pounds. | Pounds. | Pounds. | Pounds. Pa
To New York.... O71 Stine 1G; Oban eae se: 10, 167 $124. 32 $329 5808 eee es $205. 57
BOCA ese 926,415 | 837,093 892 B22 oleae eae 18,318.85 | 16,747.61 |$1,571. 24 |..........-
Wotale se 933,202 | 854,047 (QAO Sas ea eee 185 448i ede OnoU nll oOngG | ean eee
|
PASSENGERS.
Number. Earnings.
De- De-
1908. ee Increase. Cnaade: 1908. 1907. Increase. eraase.
To New York:
Hirst class 2% 566 DELS cerns: Hale Oe OL Gh | tos alike Lay ee eee er 9320. 37
Second class... -- 627 [BSS ee cee 161 2, 780. 99 SAD ID lewaken wera 678.13
To Hurope: :
First class.....-- 740 SiS a eee 133 4, 380. 39 A OBI GOs eee Soe ee 572. 21
0 pocene class... .- 198 172 | ZON eee ais 819. 00 698. 66 S120 343 as eee
ocal:
HATSt ClaSS. 62252. 229, 976 POA 84 ow lei Melo Gl eseeten 120, 466. 03 68, 547. O01 51 O19: 02sec.
second class.....| 449,186 | 265,644 | 183,492 |._.._. | 125,933.92 | 75,170.50 | 50,763. 42 |....-...
MOtaliewe ss 681, 243 420, 893 ! ZOO woo Om peas eee 2Dinooce lO! 156, s0bs 0d: LON 22 te Olle Sees


42 REPORT OF THE PANAMA RAILROAD COMPANY.

Statement of classified railroad earnings, tonnage, and passengers, Colon to Panama, for
the years ending June 80, 1908 and 1907.













































FREIGHT.
Tonnage. Earnings. BR Bio pe
In- De-
1908. 1907 | cressell crease: 1908. 1907. Increase. | Decrease. |1908. |1907.
Through: ©
From New
MORK. 11053 G86) LID. 839i se 6, 653/$363, 324. 13)$398, 848. 13)-..... 2...
From New
Orleanss Sle te S80ie 37,007 8s isle oe 41,698. 67| 27, 737. 97'$13, 960. 70
From Europe | 148, 581| 126,910) 21,671)....... 530, 263. 19) 448, 006. 33) 87, 256. 86
Total. 22. .=) 265, 647) 246, 756) 18,891). 935, 285. 99} 864, 587. 43) 70, 698. 56
Local: ee ae es ee ee
Commercial. .| 106,882) 84,529) 22,353)......- 380, 423. 04) 282, 931. 92| 47, 491.12
Isthmian |
_ Canal Com-
mission....| 481,651) 271, 046'210, 605)... ..-. 829, 412. 10) 485, 855. 19/343, 556. 91
Company
freight. .... 2Os2T easy. SOUS ees | le ORO iee tea Alte eta ieee meee eh eh | eee lana se
Rotalecsss2 sr 614,641. 393) 876221. 278ie 1,159,835.14) 768, 787. 11/391, 048. 03
Total freight .| 880,301) 640, ee LGQ ees 2,095,121 .13)1,633,374.54/461, 746. 59
MAILS.
Weight. — Harnings.
| D D
e- e-
1908. 1907. Inerease. Gronnon 1908. 1907. Increase. ieacel
Pounds. | Pounds. | Pounds. | Lbs. |
From New York..../ 1,355,000 | 1,242,500 | 112,500 |._._... $95, 480. 33 ($79,623.74 |$15,806. 59 |..-.--.--
From Europe......- 131,549 120,983 LOS D665) Sass » 723.88 | 9,675. 44 AS AAs ee Wee.
ocala se : 248,277 -150, 881 975396) Eee (028, 21h 0 O84. Ale le cece ee: $2, 560. 90
Rotel ees : 1,734,826 | 1,514,364 | 220,462 |....... 112,177,478 | 98,883.65 | 18,294.13 |..-......
TREASURE.
t Value. Karnings.
De- | De-
1908. 1907. Increase. Grease: 1908. 1907. Inerease. Grace.
From New York....| $1,642,315 | $1,700,990 |.......... $58,675 |$4,098. 58 |$3,321.60 | $776.93 |........
From Europe....... 3,127,320 | 2,424,480 | $702,840 |......... 10,788.32 | 7,641. 12°] 3,142.20 }.. 2. 2...
Local, commercial... 17,200 16456807 (ose te 147, 480 89. 00 DAT (2 lance eee $158. 02
Totalecnse 4,786,835 | 4,290,150 | 496,685 |...._.... ae Spee 2098747 3. (Ole dd aes eee
EXPRESS.
Weight. Earnings.
1908. 1907. Inerease. 1908. 1907. Increase.
Loeal: Pounds. Pounds. Pounds.
Commerciale ses 1,605,011 61,028 | 1,543,983 | $9,958.97 $367. 56 $9,591. 41
Isthmian: Canalies-23 2... LG; ODO tae eee a ee 176,855 1090S SO eer ae ce 1,090. 39

————— |

RO Cal ses eee cents 1,781,866 61,028 | 1,720,838 | 11,049. 36 367. 56 10,681. 80




REPORT OF THE PANAMA RAILROAD COMPANY. ee)

Statement of classified railroad earnings, tonnage, and passengers, Colon to Panama, for
the years ending June 30, 1908 and 1907—Continued.













BAGGAGE.
- Weight. | Earnings.
Se Ae ee ee { ae
1908. 1907. Increase. ieee 1908. 1907. Inerease. Rate
Pounds. | Pounds. | Pounds. |Pounds.
From New York... 102, 269 87, 433 WAC SS Onl eeee ee: b1, 818.15 SOO0E AL BOGTE A ink Bas ee
From Europe...... 94,170 LVL Q0eeaeen eae 22, 950 1, 383. 40 De SAQA eee ares $459. 00
Moca ee 1, 148, 276 954,811 | 198,465 |.-.-..-- 22 AGRO Tel ali W388. 82) bs 323. lool ae see
Motal: 0. 1,344,715: |. 1, 159,364 | 185; 351: 2.2.23. 265163252 | -20,331--63 | 5, 881589)... 2a
PASSENGERS.
Number. Harnings.
1908. 1907. | Increase. | Decrease. 1908. 1907. Increase. | Decrease.
From New York:
InSG Classen oe 2,365 BOO Fa eee see 1,282 | $8,068.27 | $10,930. 42 |_-...._..- $2, 862. 15
Second class... ./ 210 OZ Oe tee ee 116 903.39 AaB Ole |e eras 539. 98
From New Orleans: 5
Birsyelasss.- =. a haere Des Saco aie AO eee ee ee BAGO pas a
SOCOM Classe eas See ee SIS ener Us Wore miler ete nds Roe ana ee lene [ny Oem Sid caNtd (Re 2) ernie Ud Aa a
From Europe:
First class... -- - 716 747 DOr eee tee out 4,574, 99 4, 521. 60 Do. O ie eee ee
: Second class... 402 AOD ae aeons 53 1, 625. 49 Ll Die co tel ere eee aire eee 146. 73
ocal:
Hirst class. 222 =: 245,152 | 166, 444 1S OSE| eee. sees 127,284.56 | 72,765.75 |54, 518.81 |-.......- es
Second class....| 455, 486 | 289,815 | 165,671 |......... =| 126,786: 76 |. 78,837. 90 |47, 948: 86 |- 2. 7
RO Gale 704, 402 | 461,384 | 248,018 |_.......-. 269, 314.76 | 170,271.26 |99, 043. 50 |.....-..-.













Exuipit 1.—Statement of railroad freight statistics for the years ending June 30, 1908 and
| 1907.

Earnings per mile of road............-.-
Estimated loaded cars in each train. ..-.



1908. 1907.
GROSS Carmi Se ie oe ee ee eer eae $2, 842,840.98 | $2,389, 327.07
Freight train mileage (including all mixed train mileage)................---- 225, 841 03, 560
Hreight trains permd ay. per alle OL TOad aa ee ees 12.30 I.

_ Loaded freight car mileage._.........- eee aes Oe ee ne veers 2,653, 412 2,389, 075
Minpiy, dreiphticar mileage. pe ees 1,156, 944 811, 365
Caboose car mileage os es Oa A Sane 208, 793 244, 531
Potalsineicht car-muileage: includine caboose... 2. a 4,019, 149 3, 444, 971
Percentage of loaded car mileage to total freight car mileage (including

CaO0SE) se CO Ear OR OR EP oe Nidan ari career ne eae 66. 02 69. 35
Woaded:treicht cars-per thal. cen rer ee a ee 11.85 Le (:
Wimp bythelg ht. Cars per trail = onc. e 6 cen ae eo ete een eee bel 3. 99
Woaded-andsempty treieht cars per trains. 2 17.02 15. 73
Miroueh, Commercial melghy. 0 ee ee ee tons. . 420,527 | 380, 672
ocalecommercialireigh tiie 30500 Se ee ee dsc: 134, 889 112, 159
Local Isthmian Canal Commission freight.....-..-...-...222-22. 222. dos 589, 503 401,993

{Company (releht.2 fey ar ee eA ee eee an eae ae dons: 39, 730 41, 522
Revenue and company: treieht canted)... 822 doe. 1, 184, 649 936,346 —

Lhrough commercial freight carried | mile:-2 2.2.0 ss do. 2 21,697,210 18, 444, 583
Local commercial freight carried 1 mile............. Ss oe eras do....| = 4,782,124 4,145,521
Local Isthmian Canal Commission freight carried 1 mile........-...-- do....| 18,244,660 12,750,278
Company: freish® carried tmile. © 6558. 28 a eee does: 1,212,210 1,444,948
Revenue and company freight carried 1 mile........................-- do....| 45,936,204 36, 785, 325
Tons in each loaded car (including company freight). ............. wee donee 17, 31 15. 40
Tons in each car loaded and empty (including company freight)...........- 12. 05 I. 49
NOMS Gach Ghalneess oot eee es eae aie eve eg cee eee ee a 205. 22 180. 71
Warnings per trerehy Camper miles a: sic kc eye ee cents. - 10. 73 69. 36
Average miles each ton of revenue freight was carried................---.--- 39. 06 39. 49
Hamaines per ireront wal mile ee ee ea a $12. 70 . ll. 74
Harmines: per vomrOrrevenuentnolehtss 5 pee ee $2. 48 $2. 67
Harnines per TOneper mile sae ae ee eS ee eee cents... 6. 35 6. 76
Revenue freight carried 1 mile per mile of road......................-.tons.. 899 , 336 705,256

eRe te ee Ae ela ue a Srey ee Nearer $57,165. 51 $47,681. 84
14. 44 14. 33

Revenue iretehteneine mileates. soi ee i Penge 228, 054 205,774
Estimated loaded cars hauled per revenue freight engine. ...........--..---- 14.17 14.18
Hons hauled per revenue treisht engine <..- - 22 2 201. 42 178. 77
44

REPORT OF THE

PANAMA RAILROAD COMPANY.

Exuisir J.—Statement of railroad passenger statistics for twelve months ending June 30,
1908 and 1907.

‘Gross earnings (including mail, extra baggage, and treasure)
Passenger train mileage (including all mixed train mileage) .

Passenger trains per day per mile of road

HOORC AIM G age nes Ae hee ae ps ler ees eee Sas ve ey men Sy semeite oat
Bascare;- express: and imatlemleagers ts. ose eh eer ages me ee ce

Total, passenger car mileage
Passengers carried

Passengers carried 1 mile....-..... SS RU Ores
Average distance each passenger carried

Passengers in each passenger train

Passengers in each passenger car, excluding baggage, mail, and express......

Earnings per passenger train mile

Earnings per passenger car mile (including mail and express)....-..-- cents. -
‘Cars in each passenger train, including baggage, mail, and express...... aa

Harnings per passenger
Harnings per passenger per mile
Passengers | mile per mile of road
Earnings per mile of road



1908.

$751, 949. 08
141, 169
7.76

883, 017
179, 789

1, 062, 806
1, 385, 645
18, 550, 767
13. 39

131. 40

91. 10

$5. 33

70. 75

7.53

38, 02

9, 84

373, 030
$15, 120. 63



1907.

$495, 482. 94
143, 871
7.87

768, 469
143, 944
907, 413
882, 277
11, 254, 152
12:76

78. 22
14.74

$3. 44

54, 60
68h.

37. 02
2.90

224, 588
$9, 887. 90

| Bexar K.—Statement of railroad general statistics for twelve months ending June 30,

Average mileage operated
Total freight and passenger earnings
Total freight and passenger expenses
Net freight and passenger earnings

1908 and 1907.



wee ee wm we ewe ee ew wet ee

wee ee ee ee ee

Percentage of freight and passenger expenses to freight and passenger earn-

Operating expenses per revenue train mile..................

Net earnings per revenue train mile
Total gross earnings
Total gross expenses
Net earnings, all sources

Total revenue train mileage
Gross earnings per revenue train mile

Percentage of gross expenses to gross earnings............---

Earnings. per mile of road
\ Expenses per mile of road
Net earnings per mile of road

wee eee ee ee ee eee ee ee

= 2 40.78
$3, 594, 790. O1
$2, 404, 716. 05
$1, 190, 073. 96

66. 89
$365, 010. 00
$9. 85

$6. 59

$3. 26

$4,541, 437. 79
$2, 831, 142. 76
$1, 710, 295. 03
62. 34

$91, 321.89

$56, 930. 08
$34, 391. 81



00. 11

$2, 884, 810. 01
$1, 922, 050. 52

$962, 759. 49
66. 63
$347, 431.00
$8. 30

$o. 53
$2. 77

$3, 638, 900. 21
$2, 208, 526. 77
$1, 480, 373. 44

60. 69
$72, 618. 24
$44 073. 57
$28, 544. 67

Exursrr L.—Statement of railroad freight tonnage handled, years a June 30, 1908

and 1907.

FIRST._FROM ALL POINTS TO ALL POINTS.





From New York to San ‘Francisco

COLON TO PANAMA.

wee meee ee ee ee

From New York and New Orleans to Panama, South Pacific,

Central America, and Mexico

wer ee ew ee ee ewe ee ewe

- From Europe to Panama, South Pacific, Central America,

Mexico, and San Francisco

From Colon to Panama (local):

Commercial freight
Isthmian Canal Commission
Company freight

From San Francisco to New York
From South Pacific, Central America, Mexico, and Panama |

to New York

PANAMA TO COLON.

So

ewe ere ere eee we we ee ee et et ee tee

wee wee ee ee ee

From South Pacific, Central America, Mexico, San Francisco,

and Panama to Kurope

From Panama to Colon (local):

Commercial freight
Isthmian Canal Commission
Company freight

women nee eee ee ee eee

Decrease.

Per cent.
13. 68

=s22ee28ee22e8

1908. 1907. Increase.
Per cent.

DROPS Ele 6,044 ee
93,808 | 92,902 0.98
148,581 | 126,910 17.08
106,882 |} 84,529 26. 44
481,651 | 271,046 77.70
IDI Se SO late
880,301 | 640, 132 37.52
151627 15,085 [oe ee
AS. 64 | 49,0702
91,077 | 69,557 30.94
28,007 | 27,629 1.36
1076852.) 180,947 |aes
13, 609 3,721 | 265.74
304,348 | 296,214 | 2.75
1,184,649 | 936,346 : 26.52
REPORT OF THE PANAMA RAILROAD COMPANY. 45

EXHIBIT L.—Statement of railroad freight tonnage handled years ending June 80, 1908
and 1907—Continued.

SECOND.—COUNTRIES OF ORIGIN AND DESTINATION.











1908. 1907. | Increase. | Decrease..
COLON TO PANAMA.
ROI AAI Oe Saree se ae ee ace nen ela cen don Ue eta et ety ae 666,273 | 438,696 DL 8S 2 |o4e ss pies
Hor CemtraleAmeriCa sauce an eek ie a SOR vale tape dean 54, 329 DORIA SR uC eS ve OER
Or SOUT PACih Cire ac ata ieee ane A ee eee 119, 809 95, 209 5; 84 eee eee
HOE San WranciscO seas oye a ee ee a en ena 28, 070 SO G0O cee eee ae 8. 29:
BOE MGS CO eas ae i a UN pee eee eae ae 11,820 OOO Aa ate ies 25. 68
Toba. Soe eae ae ene ann SESS Rls ees ~ 880,301 | 640,182 Se 52s oie ees
PANAMA TO COLON. Co AC Ce ee
HOM RAMAN, eer nie SR oe Daycare ceva ener en gy EAN 15530307170; 084) os 8.85
From Central Americas... 505.222. Bu ernie’ aoe Sana a ee cS o7, 522 40, 286 ADT le cra terete
HEOMASOUUN PAC CR ee Mees ie en eae y et win ein ean 72,210 66, 741 SO a hese
TOM Sans WTANCISCOm a. cee ae UG o re eee aaa eee 15,785 LOSUS OG eran ee 2. 29,
BOT MORI COM eae Seen, Aa ee at Hague en aie an yess Wace ae 3, 801 By G48 (soe 28S OB los Wr gaees
Motel ees RE ea ae ee 304,348 | 296,214 Deh (eo noes
Total westbound and eastbound. ..:...5..2...........: “1, 184,649 "936, 346 os 6.0) eset ae

Hxuipit M.—Statement of steamship statistics for the years ending June 80, 1908 and 1907.

FREIGHT TONNAGE.

1908. 1907. Increase. Decrease.

carried. Carried. carried. Carried.
- Panama Railroad ships:
PATETLVIG Cert acetate ee ate 32 26,079 44 SAE SOSe eee eae eee 12 8,784
Salledmie eee ease 32 57,274 45 WA OSG | Satie Oa ae eee 13 16,762
Chartered passenger ships:
ATTIC Cs ea ere aah ones 36 32, 568. 30 24,964 6 604 e | Bae Ss ee ee
SASS ee ee A, 36 84,126 29 81, 007 7 SOs tees eee ae |e ene
Notal ese Sabo caste! 136 | 200,047 148 | 214,870 |....-...)- jee alesse 12 14,823.
Total freight earnings.......- $865, 257. 56 SOS D8 OO eee ee ae ena $79, 915.13
Average rate per ton....- ves 4. 33 4, 40 epee A Re ai aia Ee D eatefi
PASSENGERS CARRIED.
1908. 1907. Increase. Decrease.

Ships. Passen- Ships. Passen- Ships. Passen- Ships. Passen-

gers. gers. gers. gers.
Panama, Railroad ships:
TEV OC ce epta ie se an ok 32 2, 549 44 SilOG eases |Seeees seee 12 557
Wallede sy ae arse yeah 32 2, 493 45 A202 eee lien ties 13 1,709
Chartered passenger ships
PRETIV CO ices oon sce sie 36 4,056 30 2, 769 6 TDS Tah ose reins eye ten
Salledir ee eo neces 36 4,718 29 4,081 7 OS Geese oan | siete eee
Rotalee et ees Ne eae ss 136 13, 816 148 14, 158 ee See 12 342
Total passenger earnings..... $368, 078. 48 OOO; OSOL ALS see te sas $33, 561. 98
Average rate per passenger... 26. 28 28. O1 1. 73.


REPORT OF THE PANAMA RAILROAD COMPANY.

Kxurpir N.—Statement of locomotive and car equipment.

pa
ee













To conne: Passenger cars. Freight cars.
ao
© 4
As =
Ox
z R 2 4
6/4 \gq vn io}
| % 36 A | @ q
op a aa n — 3 oS eae
Sj © 4.2 5 S o o © 3
DCE Gael tesco ekS o8 oe se
3|SI@E Sie] a] &| S| . ie =
SSeS aisles 6 | 6 ie se
Sladojai/m#la|mia|e | a | o | &
BLOC On huNG:50) LOO (ea. Sos. essa wes ss 26 | 33 SL 214 4 2; 1,010; 144 41
Destroyed Gunn gsyear: oo. ss cea Gee os TL alae Sa | at | ASS Ft aes 14 38 29
WVOCOLVeCG: GUNINE Year. ese eee sees Dales 5 [Se as | eC ES TNS USS ed oe can a hcg cee lene ee
Changed from another class..............- ef eee | sete ees Dale eee rece | ae cess ence as yee ene 23
Changed to,anobther class... 22-5 eos EFS EPS se fares olin cn ie | Os eae eee PRD cng A eerie
Birans erred: vousuhmian Canali Conn SSO. (ess efe le ieee es ee lerccrs sees (See es oes eae eee
Stock on June 30,1908... 27|26| 71 5 | 16 | 22 | 3 | 8 296) 0e | 86
Miscellaneous.
| ie
wm eH jNo .
a oe le eee eR
Z a pe ee ee
Bele S S|olSali4|a/| 8
Aen 5 B\AIES/S isis
Sele \ele slblel2@lals 13 2\8
Ss Ss Ore eye iss a a | Ss BS la q qs
61 Ste taf S38 a oe ie |e sec
SO lm bla oe | nib |O oe
Slrocksoneane:s0; 1O07e ee: soso es 21 DOF Da Sebel: |o0 100 Ql 2aler2 10
Destroyed duringsyeab=. 2... 4s ee Delve List| SD teres Neal cereal Cresent ec arcanel Pa eae (Sete sear anget| caer |
VE COLVOC. (UTI Psy Cae ss oleh aus ae eel ers | ena leer ere |e este Soe ae bere tere olen Lele:
Changed from another class. /............. DPE OG rae ena es flan c | uapeann | eee ie ei ee Coal see ae aan | ace
Changed to another class..... Ry Sarena ier Cece eas Disieve eal ce | seas DOO Reese ee IS ae | ee | een Sl edea eae ee
Transferred to Isthmian Canal Commission. |... -|- eed eS ese alert So [ie aly oe ase oes os Jecre|ecce|eec-}eee-
Stock on June 30, 1908..-..-.:.-..--.- ine DAO \18c Pa 8 1G | 28 100.1) 2.|< alo | tel aay | 10
|
Exuisir O.—Statement of floating equipment.
Passenger accommo-
dation.
Gross
Name. ton- | Length.| Breadth. | Depth Hull.
BOER: , ._ | Steer- |Stand-
Cabin. age. ees.
: bso Hb, ANe | hb tN. :
Steamship Allianca..........:... | 3,905 | 336 0 AD 0323) 97 rome sce 159 24 382
steamship Advance. 22222222222. | 2,605 | 295 0 38 4a R28 alee On cea 74 30 60
Steamship Finance......:2.:.... 2,603 | 300 0 3945 |) 8237 100) os GOesee 72 30 60
Steamship Panama (chartered)...| 5,667 | 360 0 DOs OF 32542) | sotecles a2: GA QAR os 79
Steamship Colon (chartered).....| 5,667 | 360 0 0) UES Gye Pee Osea see DAO As eee 79
uc sbolivar:at bangmaac 3 : 234 | 127 0 23 0 OS56 7 WAT OT see See Cees ee ee
Pug Cristobal, at Colon... =.. <|2 2 161 102.0 2080 | old 0c ©cO PsP Bless ee te eee
: sheathed.
4 freight lighters, at Panama....- 200 | 108 6 24 0 7 3 OMNES reece cys alae ees te a ee
1 freight lighter, at: Panama...... 275 | 108 6 24 0. Wot ras One era Meee a ee On laene ee
1 freight lighter, at Panama...... 300} 109 4. 24 0 Ue On eee Oe sree as re eile ee ee |e
1 freight lighter, at Panama...... 300 | 109 8 24 0 Ves Onl err Oe ool ete c oe ben Sarees [eee
2 freight lighters, at Panama.....| 300| 109 8 24 0 (eee Op ese Os ree tel aesec cek |e crerenne | erences
2 freight lighters, at Panama....- 300 | 107 0 23-7 MPS eee Oncccincs eerie oe ewe gaa
3 coal lighters, at Panama........ 222)\ A100 24 0 Ses OE ese Oe seca es | See pe ee
1 floating pile driver, at Colon....|....-..- 60 «(0 30 0 Bes Ol |S VWWiOOCe ee era At lee ae



_@ When additional staterooms under construction are completed.
REPORT OF THE PANAMA RAILROAD COMPANY. AT

SUPPLEMENTAL REPORT SHOWING THE RESULTS OF THE COMPANY’S
OPERATIONS FROM JULY 1, 1908, TO OCTOBER 31, 1908.

[Presentediin compliance with resolution‘of the,board-of directors adopted at its meeting of December 2,
1908.] pBie Bieta

Exuripir P.—Income account.and profit and loss account for four months ending October

>

INCOME ACCOUNT.



Railroad: :
GPOSS Carmings-from Operation ee ee ee ee ei aie ae $1, 312, 552. 19
@perabin ge xpensesiee ss seek ee Re ie ct ates vals Serie reg erases 791,951. 82
Netearnings from operation <2 4. ue ome een a eeu ee ene sou ae $520, 600. 37
Steamship line:
Gross earnings fromeOperaviOne a ij28 eee oe era eee eerie: 486, 214. 96
© PeratiN ese SPENSCS ee ese ee erry eae rt shen rea) ee a Sn 486, 693. 51
Net loss from Operation ee Fe See Cry See is ay crey at reee 478. 55
520, 121. 82
A dd income strom iMmterest: and exCMam oe. es es see ere ear i ce oes 5, 098. 05
525, 219. 87
Less: :
Concessionary subsidy to United States Government under treaty..--..... 83, 333. 33
Interest on loan from United States Government for redemption of first
TMOLLSASC DONS tee se ee ere ee eye eae ee Spee eit ers 17, 276. 81
Fund for repayment of loan from United States Government for redemption
Of MIYSt mM OLtPAse DONS ese ee ee ee eee ea aa ns eee eee $38, 00004
INberest Om 1OaMSes eee ee ee oe es aoe et eee seein 30, 031. 45
Rental of docks andsimachine Shopsec i: =a. ak oe eee ee ey a 8, 290. 55
——————— 172;265. 48
Net income forfour months 22362 jee ee ee CSc a et eae eet 352, 954. 39
_ PROFIT AND LOSS ACCOUNT.
By balance to credit of profit and loss June 30, 1908...................... Ne ine ears 7, 349, 151. 35
Surplus from income account for four months ending October 81, 1908....................... 352, 954. 39
Amount paid on account of loan from United States Government ‘‘to pay the 44 per cent first
mortgage bonds of the Panama Railroad Company, October 1, 1907”...................... 100, 000. 00
By balance to credit of profit and loss October 31, 1908......- EES ge Uae ait ee Accen nan yee 7, 802, 105. 74
e

- Exursit Q.—Balance sheet October 31, 1908.



Cost of road, real estate, and equipment.......-....-.-..-.-.------.-----
lmprovement:and Construction. aCCOUN tS {sss se oe ee er os

Floating equipment:
ae Allianea, Finance, and Advance. $631, 064. 73

Cost of rebuilding steam-
ship Allianea to date-.....
Less replacement fund to
July sh QO

$373, 858. 62

15, 580. 46 ;
358, 278. 16
== $989; 342. 89

Mucsand liehters:: 5 2 ee 290, 943. 80

MOtalCOSE OF PLOPCLUYsssece sc eete ee ork. eee ere Ce Se ee
Bonds in Treasury:
Thirty-six6 per cent Panama Railroad Company sinking
fund subsidy bonds.....--.. BO ee tac SP Be a HES eee eT CO
Advance of subsidy. to Republic:of Colombia =.= =) 2-222... oe.
Current assets:
Cash in banks and with agents............-.. apie Seats a
Coalkand:supplies onehan Giese eee yea
Due tron COnneChine: COMMPANICS: 2 sa
Due from United States Government—
Isthmian Canal Commission..........- $647, 199. 66
Post-Office Department.............-- 82, 065. 02
Nay, Departinent ss. ae oe es 15, 228. 71

1, 167, 856. 47
178, 184. 99

744, 493. 39

Due from companies and individuals...........-....-. 77, 696. 60
Miscellaneous accounts: 2.222222... by Eos cca ea yet 960, 075. 81
General average disbursements. .--..- Seen eae ene 18, 087. 48

21, 377, 345. 85

$1, 125, 994. 62.

$15, 255, 301. 84

398, 367. 96

1, 280, 286. 69

16, 933, 956. 49

36, 000. 00
135, 000. 00

4, 272, 389. 36 |







|
1
Vi





Wap iUalleS UOC Kata ase sa rc et Aa ae ei rene en Scat Ae, eae
Capital liabilities: :
Due to United States Government—
For cash appropriated through Isthmian Canal
Commission for new equipment and improve-
TNL OTS Sacre season ch Sons Boas eles nk ns aia es ee
For cash appropriated under the act
—of Congress, approved March 4,
1907, ‘‘to pay the 44 per cent first
mortgage bonds of the Panama
Railroad Company October 1,
NGO Toe es ey REG ce es ai $2, 148, 217. 50
Less cash paid Treasurer of the
Wnibeg Staessen. eee eee 100, 000. 00
—_—___——— 2,048, 217. 50

$2, 234, 046. 74

Total capital stock and capital liabilities ...:-.........---.222-
six per cent cold sinking fund:Subsidy: bONdS@. 20 ee

| Fund for redemption of bonds:

SUXBWeTCOLMb SUDSICiy WOM CS icc sh aoe eee arene ee ee
Fund for repayment of loan from United States Govern-

ment for redemption of firSt-mortgage bonds....................-.-.--

Hqupment-and pianbreplacementtundsess = 20 ee ee
Current liabilities:
Due to United States Government—
Concessionary subsidy accrued....... $150, 833. 33
Interest accrued on loan for redemption

of first-mortgage bonds............. 4, 267. 12
—_____——— | $155, 100. 45
Isthmus: drafts mot presented nec. .225) Ae eee 702, 206. 02
Coupons motepresented: 4s ae es Bh 60. 00
Accrued interest on 6 per cent subsidy bonds........- 4, 050. 00

Audited vouchers and: pay rous: : 2.222 es

DWebO-COMNECCGINOMINeS in ree ee eee aN 30, 698. 99
Miscellaneous: aCCOUise sree oa eee 137, 015. 15
UM PAlGe Wa CGS ss sees pas ee OE Se eis ee 9,109. 53

Balance torcredit, Of pronianGd 1OSS=. oo a ee ee ee,

$7, 000, 000. 00

4, 282,264. 24

11, 282, 264, 24

135, 000. 00
130, 650. 00

25, 000. 00
406, 936. 46

1, 595, 389. 41
7, 802, 105. 74

21, 377, 345. 85

a One hundred and thirty-five 6 per cent gold sinking fund subsidy bonds of $1,000 each, amounting to $135,000, issued November 1, 1880, fall due November 1, 1910.

To meet this bonded indebtedness, $225,000 annually of the Colombian Government subsidy was pledged till March 27, 1908, the same to be applied by the company, first,
to the payment of the interest, and, second, as a cumulative sinking fund for the redemption of the principal; the bonds to be drawn yearly in September to an amount equal to
the then surplus of the subsidy sinking fund, the drawn bonds to be paid on November 1, after each drawing, and thereby redeeming the whole issue in 1908,

SF

‘“ANVdWOO GVOUTIVE VNVNVd SHEL JO LHOddY
REPORT OF

THE PANAMA RAILROAD COMPANY.

49

Hxurpir R.—Summary of earnings and expenses for four months ending October $1,

1908 and 1907.



| 1907.



1908. Increase. Decrease.
Railroad earnings:
Colonoto: Panam arc je users ee eee $754, 504. 22 POS0; OSD ONG ce oe ose eee $81, 131. 28
Panama tO. Colon: seco rss ee ates 323, 478. 96 GAG S200 tele nus aes oe 23.350. 11
Miscellaneous2 Sosek sews Sees cone ees 234, 569. O1 DSd, MB ODy tye asters seis 49,199. 54
Motal:rairoad-eamings. 2.25.5. 0 2 1,312, 552.19 LAGOS 28 Be a eas Opes eect 1E3, 680. 93
Total railroad expenses =. 5. .---:21522 3. 791, 951. 82 Q397S0S 5 28e| evens 147,351. 46
Net carmings > oes. tie ccu sea es 020, 600. 37 92037020; SA eee eee ete 6,329. 47
Per cent of expenses to earnings.......- 60. 34 OFF OGc Bias rane 3. 72)
Steamship line:
Rotakearnings <2 ese ee te ie 486, 214. 96 S20 DSO SIS ees aa ree 34,365. 22
MotahiexpensSesec ss {hee Siete ae eee 486, 693. 51 OSE OSU S30 dee eee 97, 987. 84
ING THEO SS ere Sr ee aS aoe ee cone 478. 55 DOD AQUEM li ie ee ene 63, 622. 62
Per cent of expenses toearmings:- 5.22 -. 100. 10 See 12. 21
Grand total earnings........-.-.------- 1 70s 1071p | 986,815 40 _.| 188, 046. 15
Grand: totalbexpensesiss:. 3.2262 ee iG 218, 645. 33 ODD O84Oon ecient sees 245, 339. 30
otal met: Carmimes= sno a se 520,121. 82 462, 828. 67 POU 295s LO leek. ese ware
Per cent of expenses to earnings.....-..- 71.08 TORO ge See ee cre 5. 62
@ Deficit due to— ; 4
Increase; of charter steamship Dunottan Castles: ess! on ee $59, 982. 88
Increase in extraordinary repairs to deck and engine departments of steamers Soe Srey ass 52, 604. 21
NONI sii reeee er wearear yn ies mers eeer A ape cieyurce aah pts eg oN ea EN Ly ee ee ages ne ici aa see 037.09













Exursit §.—Statement of classified railroad earnings, tonnage, and passengers, Colon.to
Panama, for four months ending October 31, 1908 and 1907.





















FREIGHT.
| Tonnage. Earnings. Hates

1908. 1907. | Decrease. 1908. 1907. Decrease. | 1908. | 1907.

Through: z
From New York..| 30,787 | 42,053 11,266 | $104,919 95 | $140,692.49 | $35,772.54 1$3. 41 | $3.35
From Gulf ports -. 3, 500 3, 697 147 13,253. 17 13, 608. 61 355.44 | 3.73 | 3.68
From Europe..... 42,231 | 52,915 10,684 | 146, 458. 37 184,895.16 | 38,486.79 | 3 47 | 3.49
MDotals ce ees ene 76, 568 | 98, 665 22,097 | 264, 631. 49 339,196.26 | 74,564.77 | 3.46 | 3.44
Local: Se ee ee ee
Commercial......- 32,649 | 37,672 5, 023 91, 302. 88 115,785. 46 | 24,483.08 | 2.80 | 3.07

Isthmian Canal
Commission... .. 139, 897 | 148, 052 3,155 | 242,107.68 242, 553. 18 445.50 | 1.73 | 1.69
Company freight..) 5,369 | 18, 141 Ui TUDE Le SU SS asah le ae soe Stas eh ors lier ciosag coset | ee ecre aeca
MOtale essai cs: 177,915 | 198, 865 15,950 | 333,410 56 358, 339. 14 24,928 58 | 1.87 | 1.85
Total freight....| 254,483 | 292,530 | 38,047 | 598, 042. 05, 697,585.40 | 99, 493. 35 | 2. 35 2. 38
MAILS.
Weight. Harnings.

1908. 1907. | Increase. | Decrease. 1908. 1907. | Increase. | Decrease.

Pounds.| Pownds.| Pounds. | Pounds.
From New York... 439,000 | 429,000 LO OOO Se ee -.|$31, 024. 38 |$30, 940. 26 SSAC LD Seer ee
From Europe...... 30, OOS ASE (Si eee oe AOUS he 2: 946562123, 286030) eo ee $339. 68
Local .. Beye fae 157, ODF ob 289715 25 O53 ees Sak ee 2,818.24 | 2,448. 83 SOQUALE Cae een
Total ae 635,802/1 503057. 180.985 | 2 oe [13sec ee

S. Doc. 632, 60-2-—-4
50 REPORT OF THE PANAMA RAILROAD COMPANY.

Exursir S.—Statement of classified railroad earnings, tonnage, and passengers, Colon to
Panama, for four months ending October 31, 1908 and 1907—Continued.























TREASURE.
Value. Harnings.
1908. a 1907. Deere. Decrease. 1908. 1907. Decréase.
eee ee Se —— WER SOG | ian ENS a
From New York.....-- 54, 068 $592, 246 $538, 178 $381. ee $1, 533. 93 $1,152. 76
MTOM HULOpPe. =.=. -: - = 771, 942 | 2,013, 551 1,241, 609 3, 014. 35 5, 995. 17 2,980. 82
Local:
COMMEerClals see oe ae 17, 200 | D008 | eee eee 89. 00 89. 00
VS Ghar an © Area cs eee |e ee eo SON eg ee ecrea [ones gctatc eins Synth tae anon an |e eaM gemetga cera iat
ERO TAR see ee 826, 010 2, 622,997 | 1, 796, 987 3, 395. 52 7,618. 10 4,222. 58
EXPRESS.
Weight. Earnings.
1908. 1907. Increase. 1908. 1907. Increase.
Local: Pounds. Pounds. Pounds.
Commercial.......- 481, 212 405, 280 75,932 | $3,115.69 | $2,454. 36 S661. 33
Isthmian Canal... - 121, 242 34, 348 86, 894 801.12 . 202. 91 598. 21
Motale a eas 602, 454 439, 628 162, 826 3,916. 81 2607.27. 1, 259. 54
BAGGAGE.
Weight. | Earnings.
1908. 1907. Increase. | Decrease. | 1908. | 1907. Increase. | Decrease.
| Pounds. | Pounds. | Pounds. | Pounds.
From New York... 39, 959 21, 725 S28 Aa reece rere aoe PIZ4EsO29 |. Hooke UO | spOSi nol ee tee
From Europe.....- Net e ( SOROS Ts eee oe ~ 12, 400- 045, 74 AOSTA eee oe $248. 00
OCA es ee ne 514,444 | 364,509.| 149,985 |..........- 65950739! 12/5 000.008 Se sas 600. 16
otal 2s 581,690 | 425,921 | 155,769 | Laren geen S220 1D eS OS(s o4e lee ae 460. 59
PASSENGERS
Number. Karnings.
oe | ae oo os
1908. 1907. | Enorease. Crone. 1908. 1907. Increase. crease.
ee SR Ue es a Sa epee a ae ei ee eee ae
From New York: | :
Hirst Class... 2: 587 A OAO sie eee 4531 $2,249, 14:|- $2; 800.541: 22222 ees $581. 40
Second class. - 62 SA eee 22 289. 00 SO220 2 |S eet So sce 73. 26
From New Orleans, |
finst Class) 25 nose Aas ie Ae ee DOAQ0M es eee 26.00
From Hurope: | :
First class....-- 228 DRO ica eter 54 1, 413. 32 LG ONO eters ena aes 247, 87
: Bae class... 87 Sete ses 86 365. 00 WANS ge 359.13
uocal:
First class... .-- 86, 165 78, 088 Be OSIE cia 46 ;220:26.| 37,992. 70 |. 38) 227-5641. 2.
second Cclass....| 195,791 | 182,221 | 63,570 |-..--.-- Dd, O21. VO OO; OOO Ore To, (oie OD tease

Totalers. << 282, £20 | Bilea7. Mi 088./0. 104, 133.85 | 82, 462.00 | Diomen
REPORT OF THE PANAMA RAILROAD COMPANY. 51

Statement of classified railroad earnings, tonnage and passengers, Panama to Colon, for
four months ending October 81, 1908 and 1907.































FREIGHT.
oe Bie Sa LISI Seite Sees
| Be ; Rate per
| Tonnage. Harnings.
| ton.
lee ona ee LG EE a
i |
In- De- 1 In= | De- ane
| tes: | 1007 | eee. || 008: 107 ace | cranes (908: 1dr,
BS Ue eo eee a re eee eee eee ee
Through: |
To New York....| 18,896) 24,348]....... by. a $57, 059. 271970, 219. OSs $13, 159. 81 Ig3, 02 $2. 88
Mo- Gullsportsss5 |e: eceee: Pres ee 1. 80 SelS oe eee OrsSl veces
ROPHUTOPC.-- 22-2 TG 943 2h OO eee 4, o 625:170.'051269 375. (9|o8 fae 7,205. 74| 3.67 3.26
Potalet203 es 30,839) 45,620|......- 9, 781)119, 231. 12)139, 603. 05}. .......- 20,371.93) 3.33 3.06
Local: oO Oe ee ee
Commerciail— 7 |
La Boca— Pa-
TVEMTAN Sie eae 3 GOS, 21Ole see: P20 b2;20. 13\ 2 Ot2WSliscs5 ose. 492. 65|—. 0a ~~ 00
Panama—Colon.-} 4,610) 5,283!......- 673) 18,516. 42) 16,300. 59\$2,215. 83)..........| 4.02 3.09
Isthmian Canal |
Commission... -- 49 356 45,672 SOSA eS 615255; O90, 8491 se. 29,094. 10} 1. 24, 1.98
Company relight. 9 070280, 100s b O04 occa che ae sl sere aera ese Se lel so ecu lene ee ee
Motel ones ee: 67,004; 61,940) 5,064/....... 81, 891. 56}109, 262. 48)....-...- 97, 370:92) 1.22: 176
‘Total freight. ..| 102,843] 107, 560|....... | 4,717/201, 122. es , 865. BS oes 47,742. 85} 1. 96 2.31
MAILS.
ne ee eerie eee Se Zea (Se ane igh Ge ey nC Na RN MO eG ane SUS Mae Sar
Weights. Earnings.
| CIT Tee iat cS ome Ieee GNC Fe Oa tT ng ca
| 1908. | 1907. | Increase.|Decrease.| 1908. | 1907. | Increase. | Decrease.
za eee aS ai ale a nee neers | eens pesca
Pounds. | Pounds. | Pounds. | Pounds.
To New York........ 48, 323 AQ Bo oe ara 1, 410 82, ae Sta S2s Ole oG) ee $33. 49
Mo CMULODOs. 522s 1, 498 1,143 BOO |e woe 122. 84 97. 46 DIOGO) acre ee
OCA aes ees oe 31, 720 3, 184 28,000, |o tee SOL On le AOU 40 umes aes Donte
POUR Sa esoe es 81, 541 54, 060 DT ASE ee ee oe 2; 953.44 4°35 O10 287s. c5 cee 63. 84
TREASURE.
| Values. Earnings.
1908. 1907. | Increase. | Decrease. 1908. 1907. Increase. | Decrease.
MouNew. Vote 22. $810, 088 | $481, 004. poe0; O84 1s ce $2, 826.75 |$1, 865.81 | $960.94 '|........- =
Fe uurope Wayans (Ol OCOTE SAO O20 on cone se $80, 948 | 2,487.34 | 2,971.87 |..........- $534. 53
0ca.
Commercial 2s. =e s oes. Us OOO Mee eee 7, 386 2.18 Sk AG Geen 18. 64
Tsthimiam Canal scl nos Sa ele cia alee asec LS a Lee I Se cree [eget ic Se lee teem
otal Ovid, WOoall: pov Ola 240 e700n |e ees 5, 268.91 | 4,856.14 AQT alec ee
J $$
EXPRESS.
: Weights. : | Earnings.
iE - . Sarria = be patoene = ss is ~t EG OVE GATOR Ea lke A ue
| 1908. | 1907. | Increase. | 1908. | 1907. Increase.
Loeal: S Pounds. | Pounds. | Pownds.
nee COMMercial 2 ase 869,522 | 736,788 | 132,734 | $5,634.66 | $4,359. 50 $1, 275. 16
i@ Isthmian Canal........ erage ste 139, 458 80, 672 58, 786. 885. 40 434. 30 451. 10
ee otal ( re 008,980 | 817, 460 o 191, 520 Te 6, 520. 06 io 4,793.80 | 1, 726.26

@ Debit.
D2 REPORT OF THE PANAMA RAILROAD COMPANY.

%

Statement of classified railroad cartin gs, tonnage and passengers, Panama to Colon, for
four months ending O-tober 31, 1908 and 1907—Continued.



BAGGAGE.
Weight. Earnings.
1908. 1907. | Increase. | Decrease. ; 1908. 1907. Decrease.



Pounds. | Pounds. Pounds. Pounds.





MOINOW.Y OLKS os Se eee se= eee 1,272 SOOM ee eee ee 1, 884 $19. 08 $56. 63 $37. 55
MRO PUTOPOs ate ors cee ee ae neers eee ea ere a ea ae ee nmea memnienner CE APC eee ot cro Gls sloiearste are wiwrere ava erecione
ocaless csc ke sy eee SZ agri: SOL ool) 215,548) eats oo. 5, 982. 07 | 6,105. 85 128. 78
TOT eee Pre eeenins 518; 401 304, 747.1 218, 66412222 ee 6,001.15 | 6,162. 48 161. 33
PASSENGERS.
Number. Earnings.
i908: | toon [oe | Be. 1908 1907 ree
: > | erease. | crease. ; ; * | erease.

To New York:

Hirsticlass= 2335 26 129 1 oy ed Bde a 38 $800. 82 BOO0ZBO aCe eae $168. 53
Second class.....-- 113 Dorlas os 126 500. 50 104956212 eee e 549. 12
To Europe: :
Mirst Class <2 io 204 S20 le eee. fe 125 1,170. 72 LQO0RS9 eee aos ae 729. 67
: Peron Classs2csce = 59 (aes eee 14 265. 51 DUO FOO | See eae se 44, 99
Local:
Hirst class .2:- = =. iat. 80;/8D1s| ty Basel 0;0204| 2 ee sae 44,985.03 | 36,681.49 | $8,353.54 |........
Second class.....-- 195, 504 | 127,128 | 68,376 |-......- 53, 895.14 | 38,272.49 | 15,622.65 |.-.-----
Potala 276,866 | 202,168 | 74,698 |........ 101,617. 72 | 79,183.84 | 22,483. 88 |........

ee eee eee

Exursrr ‘T.—Statement of steamship statistics for four months ending October 31, 1908







and 1907.
FREIGHT TONNAGE.
1908. 1907. Increase. Decrease. ,
ae Tonnage| q:: Tonnage! q; Tonnage | q:; Mloanace
Ships. carried. Ships. carried. Ships. carried. Ships. carried.
SET ay ee Pe CTS ESRI RET ciend Ea ON TI SELLE | STON SS RRR SS ae cae IE [eee Toa LTS TEENENE | LG DEAR SATCHEL DE COLA ATT Seay: | NIB ERP SS Sage eiaas | Eatin eae = «\
Panama Railroad ships: | Cay
PATTIVOC se i eee 16} 11,692 9 a2 (EAS AGE | cae eal kU ea ye
Sailed 2s see 1d | Oo eRADN I AO Tae ae 7.1 105728 |
Chartered passenger ships: :
ANTIVERG see Se cte ae oes ee 9 6, 640 13 BO Gl ariel anata ea a 4 » 6,099
Salled@ ee 10 | 20,087 15? 86/8737 Be SS | 5 18,786,
Motal 6 49| 61,261 44| 70,957 Bi le | 9,696
Total freight earnings........|. $257,033. 51 | $302 0027, 90 le VO ee , $45, 894. 41
Average rate per ton........- 4,20 AS 2 ean Sots er ea 07

PASSENGERS CARRIED.















1908. : 1907. Increase. Decrease.
: Pas- ‘ Pas-. : Pas- . Pas-
Ships. | songers. | SPS: | sengers. | SHIPS: | sengers, | SHIPS: | sengers.
Panama Railroad ships:

ATTIVOC ose ete 16 1,880 9 654 7 LPOG eer ces Bol ee cer Ces
Salleqerces 3 ER aca 14 1, 537 le 602 7 OBE eee eran ea ean:
Chartered passenger ships: © ; ee
ATL VOC erie ene ee 9 1, 729 13 DSO aie | nice wae 4 57
Salled ke a 10 1, 429 15 DOS Oa eer un eee ren 5 957
Ota a een ein ens 49 6, 575 44. 5, 428 5 Dy VA Te oR es oa eae
Total passenger earnings... .. $151, 518. 71 $137, 126. 10 $14,392.61 |... .. S08 eee
. Average rate per passenger... 23. 04. DOs 20M eee s Mesa cae era $2. 22



O




6lst CoNGRESS DocuMENT
eae \ HOUSE OF REPRESENTATIVES ee

60TH ANNUAL REPORT
& the BOARD OF DIRECTORS of the

PANAMA RAILROAD
COMPANY

TO THE STOCKHOLDERS

FOR THE YEAR ENDING JUNE 30
1909

JANUARY 13, 1910.—Referred to the Committee on Interstate and
Foreign Commerce and ordered to be printed, with illustrations

WASHINGTON
GOVERNMENT PRINTING OFFICE
TOTO.



LETTER OF TRANSMITTAL.

To the Senate and House of Representatwes: | |

I transmit herewith, for the information of the Congress, the
sixtieth Annual Report of the Board of Directors of the Panania
_ Railroad Company, for the year ended June 30, 1909. ,
Won. H. Tarr.

THe Wnuirkt Houses, a anuary 18, 1910. :
ee 3
PANAMA RAILROAD COMPANY.

BOARD OF DIRECTORS.

GEoRGE W. GOETHALS. Oswatp H. Ernst. H. H. RoussEauv.
J.C, 8. BLACKBURN. Morpecal T. Enpicotr. RicnHarp REIp Rogers.
H.-C. BoGcs: D. DuB. GAILLARD. © W. L. SrpERt.
EE. A. DRAKE. H. F. Hopeszs. | EK. T. Witson.
CLARENCE R. EDWARDS.

3 _ OFFICERS.
GEORGE W. GOBTHALS, president: 2 ceccsenseee se we ee Culebra.
He AcDRAkE “vice-president... a Oe Ce Oe os New York.
ELE. Hopess, SECOND WiCE- PTestdent: ok ee Pe a Culebra.
Hiram J. SLIFER, assistant to president and general mandger 2 6 Colon.
J. A. Surra, superintendent PS oan eee So a a Le Colon.
SWEVESTER: DEMING. Uneasunen. @ ee ee New York.
T. H. RosssBotrom, assistant to vice-president and SCORCLOTY Se ee New York.
JOHN ADAMS, dion New York.
jek doe STUNTZ, local Gudilon se eo os es. Colon.
ii © BOGGS, general Purchasing OfiCen =. We a New ork.
UGENE Ee WILSON, COMMISSONY. i is Cristobal.
WENDELL L. Simpson, commissary EY agent Pee ee Bae een New York.
ROLAND ALLWORK, inspecting CNGINCEh. Swe eee ee New York.
P. G. BAKER, master mechantc.......-.---- See On ee eee Colon.
R. Bupp, chief COOMERA e eA ay eae Colon.
Heb. BAWDEN, (ermInal StUperInicnaent=i.0 se A New York.
PICHARD LUHTDUROGERS, General. COUNSEL... 5.2. 8 oe New York.

_ General offices.—No. 24 State street, New York.

4
SIXTIETH ANNUAL REPORT OF BOARD OF DIRECTORS OF
PANAMA RAILROAD COMPANY, 1909.

PANAMA RAILROAD COMPANY,
New York, N. Y., November 10, 1909.

To the stockholders of the Panama Rawlroad Company: |

I respectfully submit, for your consideration, a report of the com-
pany’s financial condition and operations for the twelve months from
duly 1, 1908, to’ June 30, 1909. :

I call attention to the accompanying exhibits, showing income and
profit and loss account, general balance sheet, and statistical tables,
which will give you detailed information upon the financial aspects of
the company’s business; and, further, to the subjoined reports of op-
eration and maintenance of the company’s property. |

©apital stockissue (inchanved!): 2.22. 4 ee Bele os $1; 000; 000.

During the fiscal year covered by this report all of the details re-
quired to establish the record of the redemption and cancellation of
the company’s 44 per cent first-mortgage and 6 per cent subsidy capi- —
talization were completed, and at present the company is indebted
only for advances made by the United States Government for im-
provements and new construction called for to facilitate canal
construction operations.

The sums heretofore advanced by the United States Government
were increased during the current year by $377,331.79; the total of
$4,759,596.03 thus established was, however, reduced by payments
on August 1, on account of advances for redemption of the company’s.
44 per cent first-mortgage bonds, $100,000, and on June 30 last, on
account of advances for new equipment and improvements, $650,000,
leaving a total balance due of $4,009,596.03, of which $1,961,378.53
‘bears interest at 4 per cent per annum and. $2,048,217.50 at 2 per cent

per annum. : : 8

The company’s operations for the period covered by this report re-
sulted, after meeting the total cost of operation, together with fixed
charges aggregating $493,058.11, in net earnings of $1,522,780.45.

The net earnings were applied in part, as above stated, to a reduc-
tion of our indebtedness to the United States Government, and of the
balance, $551,185.68 was applied to new construction, equipment, and
improvements. : :

Karly in the official year it was deemed advisable to establish the
commissary department of the company on the Isthmus upon a sepa-
rate basis as to plant, amortization, operation, and revenue results.
Maj. EK. T. Wilson was appointed commissary, and the report sub-
mitted by him will be found subjoined hereto.

During the year Directors Jackson Smith and W. C. Gorgas retired
and were succeeded by Maj. EK. Tf. Wilson and Capt. F. C. Boggs.

In April the office of second vice-president was reestablished, and
Director H. F. Hodges was elected to fill that position on the Isthmus.

Respectfully submitted. |

: GrorGcE W. GOETHALS,
President.
5


6 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

PANAMA RAILROAD COMPANY,
New York, N. Y., November 5, 1909.
Col. Gzo. W. GoETHALs,
President, Panama Railroad Company, New Y ork, Noy:

Dear Sir: I beg respectfully to submit hon the financial
exhibits and results of the company’s operation for the twelve months
from July 1, 1908, to June 30, 1909, with statistical tables and accom-
panying explanatory comments thereon, for your consideration in
connection with your annual report to. the company’s stockholders.

Gross revenue receipts, expenditures, and net earnings for twelve
_months ending June 30, 1909, compare, as under, with those of the
twelve months ending June 30, 1908:

Operating ex- Earnings over









ings. ti -
Harnings penses. oo eens
TO Re EN er aie ops ee ine Oueye Da set te i OR a cae $5,715,517.16 | $38, 699, 678. 60 $2, 015, 838. 56 -
DOA re eyes ae ear eres, err ci ea Mee A ue ...--| 5,999,992. 07 4, 469, 507. 71 1,530, 484. 36
HBCTEASE SEE LOOG Sse ates ee ee tae Wa 485, 354. 20
Decrease 1h 909s eo OS ie Se ea 284, 474. 91 169: S29 AAs oes eee ;
EARNINGS.
RAILROAD.

The total earnings of the railroad for the transportation of all
kinds of traffic show a decrease of $274,275.94, or 6.04 per cent,
under twelve months of previous year. This decrease i in revenue is
divided as follows, viz: :

Am ount. Per cent.



Through commercial freight...........-.- ASSN CG SECA TP ah ai SES OS _ $149, 817.77 10. 45



avai comunerclalireiah ts os es ee oes ee Eee ea 6,591. 84 Ail:
Local Isthmian Canal Commission freight... .............-...-2-+-+---- He rect 115, 273. 38 11. 27
MINS CEM aM COUS ZANT Sete ee ee eek te eee a 140, 670. 76 14. 86
RO LOM eerie aee es sre a ee I ch uct eae reue wenn Chen IgE Cosa 412, 353. 75 10. 88
Passenger earnings (including mails, baggage, treasure, and express) increase. 138, 077. 81 18. 36
SNOT CECREQSC ascent Sa he es Pe ai aa ie 274, 275. 94 6. 04

Freight traffic from New York and Gulf op shows following
decreases, viz:

Tons.
Mo Souuh raciie portss . 6.8452... ee ee 9 26
To Central America and Mexico........-.. Be ere ee 7,651 -
and the following increases, viz:
g Tons
Mossan Wramcisco.. 25... 245.. So ee 14, 837
MOPAR AM Acti! Ce ee eso ee ee ie pores Ne ee 2, 594

_ From Europe to corresponding pdints the following decreases are
shown, viz:

: Tons.
To South Pacific ports..... rs CO ee ee ..-- 15, 062
fo CentralsA merica and: Mexico. 9205522. 2 0 8. fs eres ete 8, 728
PLO Daly TaN CISC Ones er Sa Se ee eS ee aaa oe 387

ho Panama oe ee a ORR ete 5, 483
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 7



In the opposite, or northward, direction the following decreases
and increases are shown, viz: |

Increase. | Decrease.

Tons. Tons.
South Pacihemorts tO Wuropes: o..6 Soe ee SU uaa oau ne Ae ee ecuieee De AO ie Siero
OentralcAmerica and: Mexico TO*MUTOpPCess2h2 0225 i sl enn goatee se ec wce tial erro. 18,690
San Francisco to BUT DCs tee ee ee FL eA EG SI GEES PS NU Toa (MORON nee ae 80
ATVI AGO BUT OW Cars et oe arth aaa ee Gra oa IE eee BRIE Shay eter OU tae rah ss Roe Plo 1 5 ei tc Femara ay 2 30
SOuUuh Pace ports tO NCW. WORK and Gul DOLiSce coe se ss sac eee ce eee ee eons DONASD A sos eeaeans
Central America and Mexico to New York and Gulf ports................-..2...---- A DBM ae eee
Dan LranCisCOstOouNew. Oli, Gullt DOris CLG. sce ce ere eS ies en cy acts awa ares ae 6, 369
Panama to New York and Gulf OTUS ee rT aN CS et tray eee cee eaten lca | Saeed es es 1,140



The following table shows the freight tonnage carried over the rail-
road for twelve months ending June 30, 1909, including company
freight, as compared with the twelve months ending June 30, 1908:





Twelve months ending June 30. 1 1909: 1908. | Increase.| Decrease.



Per cent.| Per cent.

Tons carried southbound (to Panama)... 2... 2.5.2.2... 838, 755 S80; 30T ee acs: 4,72
Tons carried northbound (from Panama)................. 321, 549 304, 348 DOO Hees
Total south and north bound .................--.- 1,160,304) 1. 184,649 | 2. 06

@ Tons of 2,000 pounds, or 40 cubic feet.





The gross earnings per ton moved on the road compare as follows:

Twelve months ending June 30. 1909. 1908. Increase. | Decrease.

casa a SPU case PSS ee SY DiS eA lel pe

a -- Per cent.| Per cent.
Southbound. (lo Pandma) ss owe sees oe ee $2.30 ae Ag shee seca 6.12

Northbound (from Panama)............- Aa ase Esau lee shae vies 2.28 De Olea eee 11. 28

Average south and north bound ........--...------ 2.30 DAS Cie ee Sa oe 7.26



Exhibit L, accompanying this report, shows the origin and destina-
tion o the freight carried over the railroad.

The total revenue freight traffic of the railroad during the twelve
months ending June 30, including both merchandise and coal, was
1,120,181 tons, a decrease of 24 1738 tons, or 2.16 per cent. The
total revenue derived from this traffic was $2, 571,157.99, a decrease
of $271,682.99, or 9.56 per cent. _

In addition to the above traffic, 40,123 tons of company freight,
ae aoe of mails and excess baggage, and 2 035 tons of express were

aule
_ Of the total freight tonnage carried, 72.29 per cent was south-
bound and 27.71 per cent northbound. In 1908 the percentages were
74.31 per cent and 25.69 per cent, respectively.

The through traffic was 32.86 per cent of the total tonnage handled,
as against 35.50 per cent for twelve months ending June 30, 1908.

Coal (including company) cm aee 52.63 per cent of ‘the local
traffic southbound.
8 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

The following statements show the number of passengers carried
and the passenger earnings: : |

PASSENGERS CARRIED.













Classification. 1909. 1908. Increase. | Decrease.
Per cent.| Per cent.
HATSt-Class Passeng@ ergy sss eles ss CS ee ees 555, 908 479, 586 HOSOI a Mr oko w eee
Second-class passengers. 2 Sek Se ee ee 1, 328, 390 906, 059 46: 6leleewcsccae see



Motale eee ee Se i 884,208 | 1,885,645.) 35.901...
\

PASSENGER EARNINGS.





MITS (Classe PAsSeNersscscen = hoes Sai Ue ote eee ne $317,034.89 |$267, 997.31 LSecOeles stew woe cet





Second-class passengers........- SAE we Siace ier oer. rae 352, 898.65 | 258, 849. 55 SOs00) [east cence coe

Motel ee ee 669, 933. 54 | 526,846.86 | 27.16 |.....-------

AVERAGE RECEIPT PER PASSENGER.

ED INTOUE Dee eee es Se OS UR ee ese aioe $3. 97 D4. 042 [5 oS 12. 56

SOCAL Se Searels eae tate cleats ROR. See eae 04 02 SSO a aoe Gees =
Second-class passengers:

TOUS Hees eee aS Ses See es BOL Fe Ae oe eles 4.35 4, 27 LES (Al Sees oe

OC eS ROR SS Pe te ee are sae 26 ice eee ea ae 7.14





The gross revenue from the transportation of passengers was
$669,933.54, an increase of $143,086.68, or 27.16 per cent, while the
number of passengers carried shows an increase of 498,653, or 35.99
per cent. : |

The revenue received from through passengers shows a decrease of ©
$1,599.88, or 6.07 per cent, and the number of passengers an increase
of 232, or 3.94 per cent, as compared with the twelve months ending
June 30, 1908. | ae |

Local passengers show an increase of $144,686.56 in revenue, or
28.91 per cent, and 498,421 in number carried, or 36.12 per cent.

MISCELLANEOUS RAILROAD RECEIPTS.

The total receipts of the several accounts grouped together under
this heading amounted to $805,977.02, a decrease of $140,670.76, or.
14.86 per cent, as compared with twelve months ending June 30, 1908.

The receipts for wharfage at Panama and Balboa and lighterage of
cargo in Panama Bay, which are included above, show a decrease of
$12,451.61. |

STEAMSHIP LINE.

The total earnings of the company’s steamship line were $1,448,-
355.31, a decrease of $10,198.97, or 0.70 per cent, as compared with
the twelve months ending June 30, 1908. ) |

Freight traffic increased 19,578 tons, or 9.79 per cent, and the
revenue therefrom shows a decrease of $16,901.02, or 1.95 per cent.

Passengers show an increase of 708 in number carried, or 5.12 per
cent, and an increase in earnings of $95.51, or 0.03 per cent.
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 9

- The increase in revenue from the transportation of mails was
$10,964.48, or 5.49 per cent. |

Of the total tonnage transported 103,606 tons were carried by the
company’s steamers and 116,019 tons by chartered steamers. In the
twelve months ending June 30, 1908, the former carried 83,353 tons
and the latter 116,694 tons.

EXPENDITURES.

The operating expenses for the twelve months ending June 30, 1909
and 1908, compare as under: |

1909. 1908. Decrease.
Per cent.
Railroads a ae ee $2,356, 319.27 | $2,831, 142. 76 16.
Steamship dimecec 8 ees eee ee petra aN eer a ete 1,343, 359.33.| 1,688,364. 95 18. OL
PTT ee Se eho pee rc Cree oe ae aya 3, 699, 678. 60 4,469,507. 71 17. 22

This table shows a decrease of $769,829.11 in total operating
expenses, while there was a decrease in total earnings of $284,474.91.
(See pp. 32 and 33.) 3 :
| RAILROAD. |

4

Summary of operating statistics.





Items. 1909. 1908. Increase. Decrease. | Per cent.
Average miles operated.......... 49.73 AQ STS | oa eee pee A eS eee ae ese
GYOSS'CATNIN GS. eee se $4, 267,161.85 | $4,541, 487.79 |.....222222-.- $274, 275. 94 6. 04
Operating expenses........0..... $27 G00; 019s 2h ee Sol ADE (Ose fe as $474, 823. 49 lOnie
INeGearnings =e. s 7 eee ee $1, 910,842.58 | $1,710,295.03 | $200,547.55 |.............. 11. 73
Per cent expenses to earnings... 55. 22 O2E Sar aay reese oe (el2 11. 42
Gross earnings per mile.......... $85, 806. 59 SOU S21 89 cs Cee eee $5, 515. 30 6. 04
Operating expenses per mile. .... $47, 382. 25 $50; 930; 08cl teen eG ei $9, 547. 83 16. 77
Net earnings per mile............ $38, 424. 34 $34,901 Sit $4 03200805 oe ee 11.73
Earnings per passenger-train mile $6. 09 $0. 33 POS On| seers Te leiees 14. 26.
Earnings per freight-train mile... $18.65 $12. 70 BONGO e | Reve eens 7. 48
Amount operating pay rolls..... $1,737, 072.93 |) $2,005; 196. 4387\ eo ee $268, 123. 50 13. 37
Tons per loaded car............. 18. 00 17.31 OS OO eee ese cae 3. 99:
AROUSEWOLELT A Mes. See es Fa ts 222.77 205. 22 Tit AGS Sie Siege 8. 55:
Locomotive mileage............. 883, 143 LLSOO2ZGe ta ee ee eae 305, 883 25.73
Passenger-train mileage.......... 146, 209 141, 169 5, O40. oe ee 3.57

Freight-train mileage...........- | 188, 297 223s BAN | Sw soiree hee 35, 544 15. 88:



Various details of organization and operation on the Isthmus are
shown on graphical charts, Exhibits P, Q, R, S, T, and U, submitted
herewith.

CONDUCTING TRANSPORTATION.

The expenses of this department decreased $225,031.41 as com-
pared with the last fiscal year, or 17.79 per cent; while the freight
tonnage handled shows a decrease of only 24,347 tons, or 2.06 per
cent, and the mileage of this tonnage a decrease of 3,988,741 ton-

miles, or 8.68 per cent. :





4 Data relating to operations on the Isthmus are supplied by Mr. Hiram J. Slifer
general manager.
10 REPORT BOARD DIRECTORS PANAMA RAILROAD* COMPANY.

The following statement gives the number of trains handled during
the year ending June 30, 1909, and also a comparison between the
months of June, 1909 and 1908:



Isthmian Canal Commis-

| Panama Railroad trains. Rion Haine:

























: : Grand
Direction. ena eeann eee total:
Comer Work. | Total. | Special. | Work. | Total.
INOLUDDOUNGS eos ee eee aa 3, 666 2,158 | 5,824 20 | 19,1381 | 19,151 | 24,975
MOU UMD O UGE ees Sets 4,052 2,158 | 6,210 27 | 19,182 | 19,159 | 25,369
Total, year ending June 30, 1909... 7,718 4,316 | 12,034 47 | 38,2638 | 38,310 | 50,344
ASVCTAGS DOR GaVeu.s Wt es ee Zio 2 11.8 33.0 0.1; 104.9] 105.0 138.0 -
Such 1G0Q. se ee BO aid | opt S71 93,180) 3, 160 iad
uTrers1O0S. es kee eer Gat cote 879 154 | 1,033 6| 4,485] 4,491 | 5,524
IDECTEAS Oia sty SE Bes Saas trains. . 339 @ 257 82 DB lels 29641 = esl 1, 383
DOCKCASC ES ka Set ek per cent. . 38.57 | @ 166.88 7.94 83.33 | 28.90 | 28.97 25. 04
Average decrease per day in June, 1909, .
OVerJUMe O08 tsk ae eee trains... Tes fa 8.6 2.7 0.17 43.2 43. 4 46. 1

a Denotes increase.

The increase in the number of work trains as compared with 1908 is
due to the labor train running between Panama and Balboa having
been treated as a commercial train in last year’s statistics and as a
work train this year. |

Notre.—tThe largest number of trains passing through any one block in eight hours
was 253 by Miraflores, but as many as 303 train movements have been made in the same
period by one point (Miraflores).

MAINTENANCE OF EQUIPMENT.

The expenses of this department show a decrease of $77,140.76, or.
20.16 per cent. 1

During the year the following additional equipment was received,
erected complete, and placed in service:

Oal-purnane locomotives. 220 eo ee Se 12
Bom cars: cach 60; 000 spounds: capacity. 15. 3235505 ook 300
modeers ballast.cars, each 100,000 pounds.capacity..:............:.............. 100
MVCMUGehA LON Care: nano Nh hee eee Ce ee ee a a ee ee ae 8

At the shops of the railroad company there have also been erected
for the Isthmian Canal Commission: |

Western dump cars, each 12 yards capacity........ ee oo eau en ass 20
Coaline cranes. each 20 toms: ... 2.222025. 8. By om a ae ie 6
Coalimoicrames IOitOnsis 2 a ois Oe i a ee 1,
Wanthvepreadenst ss ae Ca ee a oc a Or a ay 1

The general policy of equipping the best of our smaller cars with
automatic couplers for safer operation in trains was continued, and
all the power and equipment now in use is equipped in accordance
with the “safety-appliance acts’? which were made applicable to the
Canal Zone by. executive order of January 6, 1909.
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 1s
MAINTENANCE OF WAY AND STRUCTURES.

The total expenses have decreased $86,175.36 as compared with
the previous year, or 14.88 per cent. |
The total trackage in miles June 30, 1909, was:

OPERATED LINE.













Main line: !
Colon-to Ranamag sete eee ae ee ee ea 47. 27°
Balboa Branches scaics Coen Ges ee eer ee ees 2. 46
3 49. 73
Second main line:
Meer Hill torCulebracc. io a 26. 95
Pedro, Miguelto: Balboa Junction. 3:.52.2.....2 2 5. 69
32. 64
Atlantic terminal: )
OlON ee ae ees eee RE OU Ci i eee ee ee 5. 16
Cristobalvand Mount Hope.) 5) i 2 eee 25. 02
30. 18
Pacific terminal:
AQ Gere ee eG PN aya SG a ey aes areca ed 6. 96
Balboa ores a a Ce ee 6. 19
| ! 13. 15
Intermediate sidinos. etc 22s ee bee a ee 14. 52
; 140. 22
RELOCATED LINE.
Permanentsttacks sc re ee ee ee lees 20. 48
Temporary tracks.) 2) ose a ee eee eos 30. 96.
otal under control of the Panama, Ratlroad..).204 2... 2.2.50 a. 191. 66

The activities of this department, which is charged not only with
the maintenance of the operated property, but also with the construc-
tion of the relocated line, is peculiarly affected by the movement of

the commission’s dirt trains, the total ton mileage of which is esti-

mated between 180,000,000 and 200,000,000 for the year ending June
30, 1909, and for which no credit is given in the various operating
statements submitted herewith. Details of these activities are as
follows, viz: 3

OFFICE ENGINEER WORK.

The engineering force in the office consisted of an office engineer,
five draftsmen, and a blueprint boy. All designing, mapping, index-
ing, and caring for records, and all blueprinting, was done in this
office for both the operated and relocated line of the railroad, also all
mapping for the land department. |

On September 238; 1908, the engineering work in connection with
land matters was placed under the engineering department, and this
work was handled by the office engineer. Three parties were engaged
in resurveying and laying out town sites and staking lots for lessees.
New surveys have been made and maps platted of all existing town
sites on the Panama Railroad lands, 13 in all, as follows: Colon, New
Gatun, Bohio, Frijoles, San Pablo, Empire, New Empire, Camacho,
Golden Green, New Culebra, West Culebra, Cowpen, and Panama.

In order to bring all frog, switch, and track material on the Isth-
mus, both Panama Railroad and Isthmian Canal Commission, to the
same standard, so that it will be interchangeable, some changes were

2
12 REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

“made in these, and some of the turn- out standards have been re-
designed. A book of track standards, consisting of 32 sheets, each
12 by 24 inches, has been made.

NEW STRUCTURES.

During the year 101 authorities for expenditure, covering special
work in this department, were issued, and under these, and the
A. F. K’s. current at the beginning of the year, $443, 820.68 was
expended.

TRACK DEPARTMENT. ~

The operated line between Mindi Junction (milepost 4%) and Tiger
Hill Gnilepost 94) was abandoned July 9, and operation begun over
the relocated line between Mindi Junction and Gatun, and a tempo-
rary line between Gatun and Tiger Hill. The exigencies of the work
on the relocated line and on the Gatun dam made it necessary to
abandon the new line in September, and from the latter date several
changes were made in the operated line, as circumstances dictated.
On June 15, 1909, a final change was made in the new line, and the
old line, consisting of 6.84 miles of main track and 1.45 miles of
siding, was abandoned for use of the Isthmian Canal Commission in
Gatun lock and dam construction.

An additional three-fourths mile of second track was placed in
operation between milepost 40} and 40%, in order to facilitate the
handling of dirt trains from the canal, near Pedro Miguel lock site.

- During the year there have been used in maintenance 15,331 ties,
22,078 cubic yards of gravel, and 4,039 cubic yards of crushed rock
ballast. In October the further use of rock ballast was abandoned,
as all crushed rock produced was required by the Isthmian Canal
Commission. Since that time 10 miles of track south of Paraiso have
been reballasted with gravel; 26,441 feet of 90-pound, 56,099 feet of
70-pound, and 7,008 feet of second-hand 70-pound rail has been used
‘in relaying main line and other tracks. The 90-pound rail laid during
the year replaced that which had been laid on several sharp curves,
9 to 11°, last year. The latter had only been in the track from
twelve to fifteen months. It was Bessemer rail of the usual hard-
ness, having a carbon content of 0.45 per cent. The unusually short
life of this rail was due to the sharp curves and heavy traffic, 17,500,000
tons of traffic having passed over it. All 90-pound rail ‘laid during
the fiscal year is of open-hearth steel, with a 0.75 per cent carbon.
Rail renewals have all been made at the expense of the Panama
Railroad Company.

The second main line between mileposts 10? and 11, across the
_ Black Swamp, has been taken up, and a oauntlet track laid over the
old roadbed, to avoid danger from settlement of the heavy double-
track embankment.

The relocated line joins the present, or old line, at Mindi, on the
Atlantic end, and at Corozal on the Pacific end. From Colon to
Mindi, 44 miles, and from Corozal to Panama, 3 miles, the old line is
therefore permanent. This being the case, these old pieces of track
have been improved along permanent lines.
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 13

The old temporary bridges have been replaced with reenforced con-
crete culverts, giving a continuous ballasted roadbed; track has been
. relaid with open-hearth steel rail and fully ballasted, and between
Corozal and Panama a relocation is being made between mileposts 448 -
and 452 which eliminates 210° of curvature and 150 feet of distance.
The new line also replaces an 8° curve with one of 4°.

At a point 2,000 feet north of Bas Obispo the operated line lies
within the canal prism. In order to permit the completion of exca-
vation at this point the line is being shifted back into the hills around
which it is located, so that it will be outside the canal. The cost is
being borne by the Isthmian Canal Commission, and the work is
about 75 per cent complete.

BRIDGE BUILDING AND DOCK DEPARTMENT,

The following bridges have been rebuilt on permanent lines:

Length |



Bridge : r . :
No. Location. Gren: Type of structure.
Ls SMEOUMU HELO PCsie ean he iets ees ee Fe Oe a 7’ 9’’ | Rail and concrete box culvert.
Qe eeaebs CLO Bees Or Ai Se SS feo ee eas es ee Do.
Oe eee i Seca as has Smaps cir Me II ee ree ene ata y Bue De
Aye ees CLO PS ea as SAR RU i ty aun evn ace fe 122 Do.
Die cee OG Sey Cae Nis ae Se G21 Do.
G4Es CORO ZAG SS ieee Selva tee et Movin ea hae Na eae 4’ 4’’ | Concrete box culvert, 2 tracks.
O53 Balboa umCtlone ss. sa ee ees 13’ 6’ | Rail and concrete box culvert.
Balboa Wy Ces [oe re sea eee a ee ioe a aa 3’ by 4’ _| Concrete box culvert.
PRs COs ae Rae ae Gee Ae a Ay At Do.



ee

Pier 1 has been widened, strengthened, and the uncovered portion
roofed, and dock 11 is likewise being widened and lengthened. ‘This
work was necessary in connection with handling new steamships ~
Ancon and Cristobal, bringing large cargoes of cement to Isthmus for
use of the commission.

The 4,000-barrel oil tank at Mount Hope has been completed and
connected by a 6-inch pipe line with the machine shops and cold
storage. A steel tank of 1,200 barrels capacity for supplying fuel oil
to locomotives has been built at Fox River, and two 100-barrel supply
tanks for the cold-storage and Cristobal power plants have been built
at Camp Bierd. A floating pile driver with 65-foot leads and mounted
on a steel hull consisting of two old French barges has been built.

In addition to the regular maintenance, some improvements and
additions to the cold-storage and bakery plants at Cristobal were
made. These covered additions to cold-storage space, additional ice-
making capacity, moving and consolidation of Colon electric-light —
plant to the cold-storage building at Cristobal, and the construction of
the two new Duhrkop ovens in the bakery.

A municipal stable with 256 stalls was built on E street. Consid-
erable filling and construction of driveways was necessary in this
connection. :

In order to facilitate the handling of passenger traffic, and to in-
crease the revenue therefrom, a new station has been built at Highth
_and Front streets, Colon. This will take the place of both the Colon
and Cristobal stations, consolidating the passenger business at one
}O1i tic ¢ pn 1ei 1g i] c expense of Cristobal agency. The building
14 REPORT BOARD DIRECTORS PANAMA RAILROAD: COMPANY.

is 20 by 440 feet, built of concrete blocks. The train shed is 20 by 720
feet, of steel and galvanized iron, and the inclosed concrete platform
is 1,140 feet long. The station is about 90 per cent complete.

In August borings were begun on the site of proposed dock 12, to
determine the character of foundations. The result of the investiga-
tion indicates that it is entirely feasible to construct a dock along
_ permanent lines, and preliminary plans have been drawn, under
which bids will be asked for the construction of the substructure.
In the meantime, work has begun on necessary filling for construction
of tracks to serve the dock.

The necessity for additional quarters for white employees in Colon
led to very heavy expenditures during the year for the construction
of new quarters, and for the repair and remodeling of old buildings.
Including those incomplete at the close of the last fiscal year, there
were 36 A.l’.E’s. issued to cover this work.

Twenty-nine thousand five hundred and ninety-one cubic yards of
sand were loaded at Panama beach, and used for locomotives and
miscellaneous construction work, by both the Panama Railroad and
Isthmian Canal Commission. Highty-six thousand four hundred and
seven cubic yards of gravel were loaded at Gorgona and used for
making concrete on the relocated line and in ballasting the old line.

CONSTRUCTION OF THE RELOCATED LINE.

At the beginning of the fiscal year, the final location had not been
definitely decided upon—a distance of 20 miles between Gatun and
San Pablo. The first location made in this section skirted along the
east border of Gatun Lake, following around the west end of several
ridges that are in general direction perpendicular to the line. It had
been decided to abandon the old crossing of the Gatun Valley,
between Gatun and Tiger Hill, if a line could be found that would
give a better bottom for building the necessary high embankments
and at the same time not introduce too much distance and curvature.
Surveys were made along the Bohio, Agua Salud, and Baldo Espino
Ridges, referred to above, seeking low saddles through which a loca-
tion could be made. Such saddles were found and the location made
was approved early in June. The Gatun River crossing on this
approved location is about 4 miles upstream from the first location.
The operated line can later be shortened 5 miles by building a 4-mile
freight cut-off from Mount Hope to a point on the Gatun Ridge,
about 4 miles east of Gatun, and by so doing, eliminating the pusher
grade (1.25 per cent) from Mindi to Gatun. The extra expense of
handling two freight trains each way per day, if capitalized, would —
pay for building the suggested cut-off line. Except this pusher grade,
the maximum grade, both northward and southward, on the new line
will be 0.45 per cent compensated for. curvature at the rate of 0.04
per cent per degree. : : |

The completed line as being constructed will be 46.2 miles long,
1 mile shorter than the present line. The maximum curvature will
be 6°; there will be six of such curves. |

The main divisions of the construction work during the year have |
been as follows: ) 2

1. Work in vicinity of Gatun.

2. Grading in vicinity of Gatun River crossing.
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 15

3. Work in vicinity of Frijoles. ! a

4. Completing the gap between Gamboa and Caimeto and working —
from Caimeto northward.

5. Miraflores tunnel, and grading in that vicinity.

WORK IN VICINITY OF GATUN.

At a point about 800 feet south of the Gatun station there is a
large embankment which carries the railroad across a valley 1,600
feet wide, which joins the main Gatun Valley at this point.- Seven
hundred feet of the embankment is from 80 to 85 feet high, and the
permanent relocated line occupies the center of this embankment.
Along the west side is the temporary connection track, known as the
, pusher grade, or 14 percent line, which leads from the relocated line
at Gatun station (elevation 95 feet above sea level) to the old line
at Tiger Hill (elevation 22 feet). The valley which this embankment
crosses will eventually be an arm of Gatun Lake.

During fiscal year 1907-8 considerable difficulty was experienced
with this fill on account of slides, and it was necessary during the
past year to widen out the base, making the side slopes very flat.
As finally completed, June 15, 1909, the top width of the fill was 40 —
feet and the side slopes about 6.1 on the west and 3.1 on the east.
Five hundred and twenty-eight thousand cubic yards of filling was
placed, somewhat more than twice the amount required for an ordi-
nary fill of the same length and height. : : |

Fifteen hundred feet south of the high Gatun fill the line turns.
sharply to the east and follows along the south side of the ridge,
which extends from Gatun dam and forms the rim of Gatun Lake.
The line follows this ridge for about 4 miles, where it makes another
sharp turn, this time to the south, and crosses the Quebrancha,
Quebrada Baja, and Gatun valleys, which converge into one between
there and where the original relocation crossed between Gatun and
Tiger Hill. The south slope of said ridge is more or less cut up by
gullies, and numerous ridges extend out between those gullies. The
method of construction has been to build as much as possible by
benching into the side hill and casting over with steam shovels, driv-
ing pile trestles across the intervening cullies.

A permanent depot was built at Gatun. It consists of a 2-story
concrete block house 37 by 67 feet, containing on the first floor the
ticket and telegraph office and rooms for baggage and freight and
on the second floor 6-room family quarters for the agent. ‘There is
a covered concrete platform or waiting room 37 by 132 feet. The
work was started in December and completed in April. :

WORK IN VICINITY OF GATUN RIVER CROSSING. |

The relocated line crosses the Gatun River at a point about 4 miles
east of the old line of the railroad and very close to the east boundary
of the Canal Zone. A camp was opened near this crossing in Feb-
ruary, 1909, to accommodate the engineer party, construction super-
visor, foreman, and about 100 men. A clearing gang of Panamanian
natives living in the vicinity was organized, and about 4 miles of
right of way were cleared. About 100 men worked at erading during
the last three months of the fiscal year, and prepared over a mile of
®
16 REPORT BOARD DIRECTORS PAN AMA RAILROAD COMPANY.

roadbed. The camp has been served with provisions, tools, cold
storage, and miscellaneous supplies entirely by native canoes from >
the operated main line to the camp, a distance of 7 miles via Gatun
River. |

WORK IN VICINITY OF FRIJOLES.

In order to get work started as far Hon Awana. from the completed
section north of Gamboa as possible, a connection track a little over a
mile long was built from the old station of Frijoles up the Frijolito |
River Valley till it reaches the relocated line. Permanent track has
reached a point 3 miles north of this junction and about a mile south
of the Bohio Ridge. The cuts have been excavated for a mile in
advance of the track, and track will advance as rapidly as a track
pile driver can build temporary trestles across the numerous streams.
There remain at the close of the fiscal year 8 miles of such track to
be laid from the north end of the work at Frijoles to the south end
of the work at Gatun. A little over 1 mile of that distance is already
graded south of the Gatun River crossing. About 24 miles will have
to be built by first driving pile trestles. The remainder is to be
built by taking out the cuts by hand ahead of the pile driver and
driving trestles across the intervening gullies.

WORK ON THE CAIMETO SECTION.

Caimeto is 5 miles north of Gamboa and 5 miles south of Frijoles.
At the close of the fiscal year, June 30, 1908, the north end of the
track from Gamboa was about a mile from Caimeto. During the
present fiscal year trestle was driven across a 4,000-foot valley, which
made up the greater part of this mile. Track was laid through the
intervening cut, which was taken out by hand. Excavated material
has been hauled by the Isthmian Canal Commission from the Culebra
cut across the Gamboa Bridge, and this trestle, as well as all of the
other large trestles, lying immediately north of Gamboa for a dis-
tance of 6 miles have been filled. At the same time work has been
carried on northward from Caimeto toward Frijoles, and there
remains a gap of about a mile between the north end of track on that
section and the south end of track on the Frijoles section.

MIRAFLORES TUNNEL,

At the beginning of the fiscal year, excavation of the tunnel bore
had been practically completed and temporary timber lining had
been placed through nearly the entire length. The north 400
_ feet of the tunnel passes through solid rock and the south slope.

of that rock hes at an angle of about 45°. The excavation of the
south portal of the tunnel so disturbed the equilibrium of the earth
which forms the south side of the Miraflores Ridge, which the tunnel
Pan that during the months, of July and August the entire side

ill, involving about 200,000 cubic yards of material, began moving
southward along the axis ‘of the tunnel and also slightly eastward, at
an angle of about 60° from the direction of its axis. This carried.
the earth section of the tunnel with it and literally twisted the tunnel
to pieces. The timbering in the earth section, 200 feet long, collapsed
in September: The rock section, 421 feet at ‘the north end, was not
REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY. 17

affected and was lined with concrete during September, October, and —
November. Work was discontinued in the earth section until the
beginning of the dry season, January 1, when the tunnel was again
opened up on the original center line and grade, and was completed
ain April, 1909.

BRIDGES AND CULVERTS.

On the completed line there will be two steel bridges carried on
reenforced concrete piers and abutments. One of them, spanning the
-Chagres River where it enters Gatun Lake at Gamboa, was built
during the fiscal year ending June 30, 1908. The other will be a
Bascule bridge at the Gatun River. All of the other rivers and
streams will be carried by culverts below sub-grade, so there will be
a continuous ballasted roadbed. ‘Three types of concrete culverts are
used: Reenforced concrete arches, reenforced boxes, and vitrified pipe
culverts. Gravel concrete has been used almost exclusively during
the fiscal year. 3 |

LABOR.

Three systems of labor have been used:

1. Construction by the railroad company’s own labor forces.
2. An outright contract at a fixed price per cubic yard.
38. What is known as task work.

The outright contract is of the usual form, except that the railroad
company furnishes tools, Decauville cars and track, and the con-
tractor supplies labor and supervision only. ‘The inaccessibility of
the work makes it impracticable to do contracting on a large scale.

Task work has developed unsuspected working ability in the West
Indian laborer. He is paid for each Decauville carload of material
(about one-third cubic yard) moved. Engineers of the company give
stakes and direct the work. The railroad company furnishes Decau-
ville cars and rails and picks and shovels. No classification of mate-
rial is made, as the company does all of the blasting necessary to get
rock into small pieces to be handled by one or two men. A number
of negroes cooperate, some doing digging and loading and some
dumping and spreading. They work hard and steadily until their
“task” isdone. The company requires that at least 15 cars be loaded
by each man for his day’s work. The work is thus advanced more —
rapidly than if the men were allowed to determine the length of their
own task, and the equipment furnished by the company is kept ©
more constantly in use. —

MATERIAL STORES DEPARTMENT.

The consolidation of the storekeeper’s material at one convenient
point has brought about its economies and resulted in reducing the
pay roll expense for the year $9,685.54, or 15.23 per cent. :

During the year we have changed our method of distributing sup-
plies by sending over the line once each month several special apply
cars, which not only increase the efficiency of the department, but also
allow it to gather. up monthly the surplus supplies which may have
accumulated at various points. es

Hi. Doe.929, b1-2 2
18

REPORT BOARD DIRECTORS PANAMA RAILROAD COMPANY.

The business for the fiscal year as compared with twelve months

ending June 30, 1908, is as follows:

Items.

Material on hand July 1...........-:
Material received by New York pur-
CHaSCS Se see Ue eer one
Material purchased from Isthmian
Se Canal COMMISSMON sees cet se koe
Material received from shop work... .
Material total Gebitescs. 22 on Was
Material distributed -.....-....--.-..
Invoices:handledss fase FS Ss
IPBYyaTOL Sass ek or
OTHER OXpPeENnSeS 82s ss ks es
‘Per cent store expenses to total busi-
NESS See ee eae

1909.

$312, 553. 69
$1, 160, 146. 10

$193, 391. 82
$112, 758. 23
$1, 958, 897. 04
$1, 646, 343. 35
15, 714

$53, 927. 48
$12, 904. 69

4.1

| 1908.
Bs

$403, 061. 72
$1,315, 700. 01

$342, 547. 56 |

$110, 571.82
$2, 030, 325. 99
$1, 627, 264. 27

16, 385
$63, 613. 02
$14, 836. 47

4.8

| Increase.



Decrease.

Per cent.

$90, 508. 03
$155, 553. 91

1
$9, 685. 54

70



22. 46
11.82

43.54
1.98

3. 52
teed
4.10

15. 23

13. 02

14. 58°

LAND DEPARTMENT.

Karly during the fiscal year it was decided to consolidate this de-

partment with the general manager’s office, believing that a closer
touch with the details of leasing lands was necessary, and also for
economical reasons in connection with the operation of the depart-
ment. This change dispensed with the services of all collectors in the
field, and now all rentals are paid direct to our agents, and the amount
due for back rentals has been materially reduced. Thirteen new vil-
lage plots were prepared, as shown by engineering department’s re-
port, and new records were established. The leasing of lands is being
automatically and methodically handled by three clerks.
_ The general policy of issuing leases at nominal cost for ecclesiastical,
charitable, educational, and other public institutions, is continued,
and there are 49 such lots divided as follows: Churches, 32; schools,
10; parks, 3; fire stations, 2; miscellaneous, 2.

Leases outstanding at end of fiscal year June 30, 1909.



; Annual

Location. Leases. Lots. {4 mar tal
Colont es. oo. sce. CRUE ao toes Mace ata oe ph a ye ee Lo mere Mane ees 612 649 | $53,679. 96
MOlkesetilvier. S63 o ce ee ae 39 49 1, 152. 40
RESUME eye Se ees ae OEE he Saas omen Rae Ce en a ue 125. 147 3,751. 00
ES OW Ones a rey ie en a a Se ea eee nee ee ope tae